Form 8-K - Current report
November 16 2023 - 4:05PM
Edgar (US Regulatory)
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0001861657
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2023-11-10
2023-11-10
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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) November 10, 2023
THARIMMUNE,
INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-41210 |
|
84-2642541 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(I. R. S. Employer
Identification No.) |
1200
Route 22 East, Suite 2000
Bridgewater,
NJ 08807
(Address
of principal executive offices, including zip code)
(908)
955-3140
(Registrant’s
telephone number, including area code)
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, $0.0001 par value |
|
THAR |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined 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 check mark 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 or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing |
On
November 10, 2022, Tharimmune, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications
Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum stockholders’
equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on The
Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 (the “Stockholders’ Equity Requirement).
In the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, the Company reported stockholders’
equity of $1,756,923, which is below the Stockholders’ Equity Requirement for continued listing. Additionally, as of the date of
the Letter, the Company did not meet either of the alternative Nasdaq continued listing standards under the Nasdaq Listing Rules, which
include a market value of listed securities of at least $35 million or net income of $500,000 from continuing operations in the most
recently completed fiscal year, or in two of the three most recently completed fiscal years.
The
Letter has no immediate effect on the listing of the Company’s common stock and the Company’s common stock continues to trade
on The Nasdaq Capital Market under the symbol “THAR” subject to the Company’s compliance with the other continued listing
requirements.
Pursuant
to the Letter, the Company has 45 calendar days, or until December 26, 2023, to submit a plan to regain compliance. If the plan is accepted
by Nasdaq, an extension of up to 180 calendar days from November 10, 2023 may be granted for the Company to evidence compliance.
The
Company is considering available options to regain compliance with the Nasdaq Listing Rules and is actively seeking financing options
that could be helpful in meeting the Stockholders’ Equity Requirement. The Company expects to develop a plan for submission to
Nasdaq. However, there is no assurance that the Company will be successful in developing a plan for compliance, that the Company’s
plan will be accepted, or even if it is accepted, that the Company will ultimately be able to regain compliance. If the Company submits
a plan to regain compliance and it is not accepted, Nasdaq would permit the Company to appeal the decision to reject the Company’s
proposed compliance plan to a Nasdaq Hearings Panel.
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.
Date:
November 16, 2023 |
Tharimmune,
Inc. |
|
|
|
/s/
Randy Milby |
|
Randy
Milby |
|
Chief
Executive Officer |
v3.23.3
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Nov. 10, 2023 |
Cover [Abstract] |
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Document Period End Date |
Nov. 10, 2023
|
Entity File Number |
001-41210
|
Entity Registrant Name |
THARIMMUNE,
INC.
|
Entity Central Index Key |
0001861657
|
Entity Tax Identification Number |
84-2642541
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
1200
Route 22 East
|
Entity Address, Address Line Two |
Suite 2000
|
Entity Address, City or Town |
Bridgewater
|
Entity Address, State or Province |
NJ
|
Entity Address, Postal Zip Code |
08807
|
City Area Code |
(908)
|
Local Phone Number |
955-3140
|
Written Communications |
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Title of 12(b) Security |
Common
stock, $0.0001 par value
|
Trading Symbol |
THAR
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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