Form 8-K - Current report
03 Octubre 2023 - 3:27PM
Edgar (US Regulatory)
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2023-10-03
2023-10-03
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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 3, 2023
ORGENESIS
INC.
(Exact name of registrant as specified
in its charter)
Nevada
|
|
001-38416
|
|
98-0583166
|
(State
or Other Jurisdiction |
|
(Commission
File |
|
(IRS
Employer |
of Incorporation) |
|
Number) |
|
Identification
No.) |
20271
Goldenrod Lane, Germantown, MD 20876
(Address of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: (480) 659-6404
Not
Applicable
(Former name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
ORGS |
|
The
Nasdaq Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b -2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
September 27, 2023, Orgenesis Inc. (the “Company”) received written notice from the Listing Qualifications Department of
The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that for the preceding 30 consecutive business days, the Company’s
common stock did not maintain a minimum closing bid price of $1.00 per share as required by Nasdaq Listing Rule 5550(a)(2) (the “Minimum
Bid Price Requirement”). The notice has no immediate effect on the listing or trading of the Company’s common stock, and
the common stock will continue to trade on The Nasdaq Capital Market under the symbol “ORGS”.
In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a grace period of 180 calendar days, or until March 25, 2024, to regain
compliance with Nasdaq Listing Rule 5550(a)(2). Compliance can be achieved automatically and without further action if the closing bid
price of the Company’s stock is at or above $1.00 for a minimum of 10 consecutive business days at any time during the 180-day
compliance period, in which case Nasdaq will notify the Company of its compliance and the matter will be closed.
If,
however, the Company does not achieve compliance with the Minimum Bid Price Requirement by March 25, 2024, the Company may be eligible
for additional time to comply. In order to be eligible for such additional time, the Company will be required to 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 Minimum Bid Price Requirement, and must notify Nasdaq in writing of its intention to cure the deficiency during the
second compliance period, by effecting a reverse stock split, if necessary. The Company intends to consider all available alternatives
in order to regain compliance during the grace period of 180 calendar days and will pursue those alternatives that are in the best interest
of the Company and its shareholders.
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.
|
ORGENESIS INC. |
|
|
|
Date:
October 3, 2023 |
By: |
/s/
Elliot Maltz |
|
|
Elliot
Maltz |
|
|
Chief
Financial Officer, Treasurer and |
|
|
Secretary |
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