Current Report Filing (8-k)
January 25 2022 - 5:01PM
Edgar (US Regulatory)
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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) January
18, 2022
COMSOVEREIGN HOLDING CORP.
(Exact name of registrant as specified in charter)
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Nevada
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333-150332
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46-5538504
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(State or other Jurisdiction of
Incorporation or Organization)
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(Commission File Number)
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(IRS Employer
Identification No.)
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5000 Quorum Drive, Suite 400
Dallas, TX
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75254
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(Address of Principal Executive Offices)
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(zip code)
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(Registrant’s telephone number, including area
code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of registrant under any of the following provisions:
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.0001 per share
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COMS
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The Nasdaq Stock Market LLC
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Warrants to purchase Common Stock
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COMSW
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The Nasdaq Stock Market LLC
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9.25% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share
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COMSP
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
§240.12b-2).
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. ☐
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Item 3.01
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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On January 18, 2022, COMSovereign
Holding Corp. (“COMSovereign” or the “Company”), received a written notice (the “Notice”) from the
Nasdaq Stock Market LLC indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), as the Company’s
closing bid price for common shares were below $1.00 per share for the last 30 consecutive business days.
On January 20, 2022, the Company
issued a press release announcing that it had received the Notice, which is attached as Exhibit 99.1 to this Current Report and is furnished
herewith.
Pursuant to Nasdaq Listing Rule
5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, or until July 18, 2022, to regain compliance with the
minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common shares must meet or exceed $1.00
per share for at least 10 consecutive business days during the 180-calendar day compliance period.
If the Company is not in compliance
by July 18, 2022, the Company may be afforded a second 180-calendar day compliance period. To qualify for this 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 Nasdaq with the exception of the minimum bid price requirement and will need to provide written notice of its intention to cure the
deficiency during the second compliance period. If the Company does not regain compliance within the allotted compliance period(s), including
any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company’s common shares will be subject to delisting.
The Company intends to monitor the closing bid price
of its common shares between now and July 18, 2022 and intends to consider available options to cure the deficiency and regain compliance
with the minimum bid price requirement within the compliance period. The Company’s common shares will continue to be listed and
trade on the Nasdaq Capital Market during this period, unaffected by the receipt of the written notice from Nasdaq.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits:
SIGNATURE
Pursuant to the requirement 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.
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Date: January 25, 2022
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COMSOVEREIGN HOLDING CORP.
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By:
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/s/ Daniel L. Hodges
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Daniel L. Hodges
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Chairman and Chief Executive Officer
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COMSovereign (CE) (USOTC:COMS)
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