Lexaria Bioscience Corp 8-K, filed Nov 3, 2023
Lexaria Bioscience Corp. (LEXX)
About this 8-K
Lexaria Bioscience Corp filed this 8-K on November 3, 2023.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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Item 8.01 Other Events
Cure of Nasdaq Bid Price Deficiency
On November 3, 2023, Lexaria Bioscience Corp. (the “Company”) received a letter from the listing qualifications department staff of The Nasdaq Stock Market (“Nasdaq”) confirming that the closing bid for the Company’s common stock during the eleven (11) consecutive business days from October 19, 2023 to November 2, 2023 had been at or greater than $1.00 and therefore compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq had been regained.
Warrant Exercises
Since October 24, 2023, the Company has received notices of warrant exercise for the issuance of an aggregate 468,279 common shares (the “Warrant Shares”) at an exercise price of $0.95 per Warrant Share resulting in gross proceeds of $444,865.05 payable to the Company. The Warrant Shares have been registered with the SEC under an S-1 Registration Statement under file number 333-271096.
Pre-Funded Warrant Exercises
Pursuant to our Registered Direct Financing that closed on October 3, 2023, we have received a request for the exercise of 303,058 pre-funded warrants at an exercise price of $0.0001 for gross proceeds of $30.31 payable to the Company. The pre-funded warrant shares have been registered with the SEC under an S-3 Registration Statement under file number 333-262402.
The Company currently has 9,752,259 common shares issued pursuant to the noted warrant and pre-funded warrant exercises.
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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 hereunto duly authorized.
LEXARIA BIOSCIENCE CORP. |
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/s/ Chris Bunka |
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Chris Bunka |
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CEO, Principal Executive Officer |
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Date: November 3, 2023 |
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