Salarius Pharmaceuticals Inc.

15/08/2024 | Press release | Distributed by Public on 15/08/2024 20:05

Material Event Form 8 K

Item 8.01. Other Events.
On August 9, 2024, Salarius Pharmaceuticals, Inc. (the "Company") reported in its Quarterly Report on Form 10-Q for the three months ended June 30, 2024 (the "Form 10-Q") that it had $2,375,353 in stockholders' equity as of June 30, 2024. To maintain the Company's listing on The Nasdaq Capital Market ("Nasdaq"), the Company is required to maintain, among other things, a minimum stockholders' equity of at least $2.5 million pursuant to Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement").
As disclosed in the Form 10-Q, subsequent to June 30, 2024, the Company sold 564,730 shares of its common stock for gross proceeds of approximately $1.5 million pursuant to that certain At the Market Offering Agreement, dated as of February 5, 2021, with Ladenburg Thalmann & Co. Inc. (the "Financing Transaction").
As of the date of this Current Report on Form 8-K, the Company believes it complies with the Stockholders' Equity Requirement after giving effect to the Financing Transaction.
Notwithstanding the foregoing, Nasdaq will continue to monitor the Company's ongoing compliance with the Stockholders' Equity Requirement and, if at the time of the Company's next Quarterly Report on Form 10-Q the Company does not evidence compliance, the Company's common stock may be subject to delisting.