06/16/2026 | Press release | Distributed by Public on 06/16/2026 14:01
Item 8.01. Other Events.
On June 11, 2026, Lunai Bioworks, Inc. (the "Company") received a letter from The Nasdaq Stock Market LLC ("Nasdaq") confirming that the Panel has determined that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share (the "Bid Price Rule"), and that the Company has met the terms set forth in the Nasdaq Hearings Panel's decision and extension letters dated April 20, 2026, and May 12, 2026, respectively.
Nasdaq also informed the Company that, pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory Panel monitor for a period of one year from the date of Nasdaq's letter. During the monitoring period, if the staff of Nasdaq determines that the Company is again out of compliance with the Bid Price Rule that was the subject of the exception, notwithstanding Nasdaq Listing Rule 5810(c)(2), the Company will not be permitted to submit a plan of compliance with respect to that deficiency, the staff of Nasdaq will not be permitted to grant additional time for the Company to regain compliance with respect to that deficiency, and the Company will not be afforded any otherwise applicable cure or compliance period pursuant to Nasdaq Listing Rule 5810(c)(3). However, the staff of Nasdaq would issue a delist determination letter, and the Company would have the opportunity to request a new hearing before the Nasdaq Hearings Panel in accordance with Nasdaq Listing Rule 5815(d)(4)(C). The hearing request would stay any suspension or delisting action pending the conclusion of the hearing process.