Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed on a Current Report on Form 8-K filed on June 24, 2022,
on June 21, 2022, SeqLL Inc. (the "Company") received a deficiency letter from
the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market
("Nasdaq") informing the Company that its common stock was below the minimum
$1.00 per share requirement for continued inclusion on The Nasdaq Capital Market
pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement") based
on the closing bid price of the common stock for the 30 consecutive business
days prior to the date of notice from Nasdaq.
On December 20, 2022, the Company received notice from Nasdaq indicating that,
while the Company has not regained compliance with the Bid Price Requirement,
Nasdaq has determined that the Company is eligible for an additional 180-day
period, or until June 19, 2023, to regain compliance. According to the
notification from Nasdaq, the Staff's determination was based on (i) the Company
meeting the continued listing requirement for market value of its publicly held
shares and all other Nasdaq initial listing standards, with the exception of the
minimum bid price requirement, and (ii) the Company's written notice to Nasdaq
of its intention to cure the deficiency during the second compliance period by
effecting a reverse stock split, if necessary. If at any time during this second
180-day compliance period, the closing bid price of the common stock is at least
$1 per share for a minimum of 10 consecutive business days, Nasdaq will provide
the Company with written confirmation of compliance. If compliance cannot be
demonstrated by June 19, 2023, Nasdaq will provide written notification that the
common stock will be delisted. At that time, the Company may appeal Nasdaq's
determination to a Hearings Panel.
Item 7.01 Regulation FD Disclosure.
The Company has issued a press release, dated December 22, 2022, announcing the
notice received from the Staff. The press release is attached hereto as Exhibit
99.1 and is incorporated by reference herein. The information furnished in
Exhibit 99.1 hereto shall not be considered "filed" for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or
otherwise subject to the liabilities of that section, nor shall it be
incorporated by reference into future filings by the Company under
the Securities Act of 1933, as amended, or under the Exchange Act, unless the
Company expressly sets forth in such future filings that such information is to
be considered "filed" or incorporated by reference therein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
See the Exhibit Index below, which is incorporated by reference herein.
Exhibit No. Description
99.1 Press release dated December 22, 2022, entitled "SeqLL Inc. Granted
Second 180-Day Extension by Nasdaq Regarding Minimum Bid Requirements"
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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