Dirtt Environmental Solutions Ltd 8-K, filed Sep 14, 2022
Dirtt Environmental Solutions Ltd (DRTTF)
About this 8-K
Dirtt Environmental Solutions Ltd filed this 8-K on September 14, 2022, reporting on events of September 7, 2022.
Items reported
- Item 3.01: Delisting notice or listing transfer
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard |
On September 7, 2022, DIRTT Environmental Solutions Ltd. (the “Company”) received a letter from Nasdaq Stock Market (“Nasdaq”) that the Company has not been in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for a period of 30 consecutive business days. This notice has no immediate effect on the listing of the Company’s stock on the Nasdaq Global Select Market.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided a compliance period of 180 calendar days from the date of the Notice to regain compliance with the minimum closing bid price requirement. If the Company does not regain compliance during the compliance period, the Company may be afforded a second 180 calendar day period to regain compliance if the Company elects to transfer to the Nasdaq Capital Market. To qualify, the Company must meet the continued listing requirement for market value of publicly-held shares and all other initial listing standards for the Nasdaq Capital Market (with the exception of the bid price requirement) and notify Nasdaq of its intent to cure the deficiency.
The Company can achieve compliance with the minimum bid price requirement if, during either compliance period, the closing bid price per share of the Company’s common stock is at least $1.00 for a minimum of ten consecutive business days. The Company intends to monitor the closing bid price of its stock and assess potential actions to regain compliance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| DIRTT Environmental Solutions Ltd. | ||||||
| Date: September 14, 2022 |
By: | /s/ Nandini Somayaji | ||||
| Nandini Somayaji | ||||||
| Senior Vice President, Talent General Counsel and Corporate Secretary | ||||||