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|Item 3.01.|| |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed in LogicBio Therapeutics, Inc.’s (the “Company”) Current Report on Form 8-K filed on March 18, 2022, on March 17, 2022, the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company that, based upon the closing bid price for the Company’s common stock for the 30 prior consecutive business day period, the Company no longer satisfied the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1), and that it had been provided a 180-calendar day grace period to regain compliance with that requirement, through September 13, 2022.
On September 15, 2022 the Company received formal notice from the Staff indicating that the Staff had determined to delist the Company’s securities from The Nasdaq Global Market based upon the Company’s continued non-compliance with the $1.00 bid price requirement unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”). The Company intends to timely request a hearing before the Panel, which request will stay any further action by the Staff pending the Panel’s decision. The request submitted by the Company would also stay the suspension of securities until the Panel’s decision, and thus, the Company’s common stock would continue to trade on The Nasdaq Global Market during this period. There can be no assurance that the Panel will determine to continue the Company’s listing or that the Company will be able to evidence compliance with the applicable listing criteria within the period of time that may be granted by the Panel.
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.
|LOGICBIO THERAPEUTICS, INC.|
|Title:||Chief Financial Officer|
Date: September 20, 2022