SeqLL Inc. Receives Notification from Nasdaq Regarding Minimum Bid Requirements
BILLERICA, Mass., June 24, 2022 (GLOBE NEWSWIRE) — SeqLL Inc. (NASDAQ: SQL and SQLLW) (“SeqLL” or the “Company”), a technology company providing life science instrumentation and research services. life through collaborative partnerships aimed at the development of new scientific assets and intellectual property, announced that on June 21, 2022, the Company received written notice (the “Notice”) from the Nasdaq Stock Market LLC stating that the Company was not in compliance with Nasdaq Listing Rule 5550 (a)(2), as the Company’s closing bid price for common stock was less than $1.00 per share during the past 30 business days consecutive.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a compliance period of 180 calendar days, or until December 18, 2022, to regain compliance with the requirement. minimum bid price. To restore compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for at least 10 consecutive business days during the 180 calendar day compliance period.
If the Company is not in compliance by December 18, 2022, the Company may be granted a second compliance period of 180 calendar days. To qualify for this additional time, the Company will need to meet the continuous listing requirement for publicly held stock market value and all other initial listing standards for the Nasdaq, except the minimum bid price requirement and will be required to provide written notice of its intention to remedy the deficiency during the second compliance period. If the Company does not return to compliance within the specified compliance time(s), including any extension that may be granted by Nasdaq, Nasdaq will give notice that the Company’s common stock will be subject to a write-off.
Daniel Jones, President and CEO of SeqLL Inc., said, “Our management team remains very confident and excited about our future given the progress we have made in developing our technology platform in conjunction with our group of established partners. We look forward to sharing important developments in the future and increasing shareholder value and the value of our common stock.
The Company intends to monitor the closing bid price of its common shares by December 18, 2022 and intends to review the options available to remedy the deficiency and restore compliance with the price requirement. minimum buyer during the compliance period. The Company’s common stock will continue to be listed and traded on the Nasdaq Capital Market during this period, unaffected by the receipt of Nasdaq’s written notice.
This announcement is made pursuant to Nasdaq listing rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
About SeqLL Inc.
SeqLL is a technology company providing life science instrumentation and research services through collaborative partnerships aimed at developing new scientific and intellectual property assets in multiple ‘omics’ domains. The Company leverages its expertise with its True Single Molecule Sequencing (“tSMS®”) platform to empower scientists and researchers with enhanced genetic tools to better understand the molecular mechanisms of disease that are essential for the continued development of new breakthroughs in genomic medicine, and which hopefully address critical concerns in precision medicine today. In short, our experienced team works with our collaborators to develop innovative solutions adapted to the needs of each specific project.
This press release contains certain forward-looking statements, including those relating to the applicability and viability of the company’s technology to quantify blood RNA molecules and other statements that are predictive in nature and those relating to the restoration of compliance with Nasdaq’s continued listing requirements, and the timing and effect thereof. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. These statements can be identified by the use of forward-looking expressions, including, but not limited to, “expect”, “anticipate”, “intend”, “plan”, “believe”. , “estimate”, “potential”, “predict”, “project”, “should”, “would” and similar expressions and the negatives of these terms. Potential investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 under the caption “Risk Factors”.
Ashley R. Robinson
LifeSci Advisors, LLC
Such. : +1 (617) 430-7577
Email: [email protected]