Company: BOLT
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0000950170-25-043873
Chunk: 123

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1A
Chunk 123
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 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price required to maintain listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(a)(1), or the Minimum Bid Requirement.  In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we were provided 180 calendar days to regain compliance with the Minimum Bid Requirement, (the “Compliance Period”), to regain compliance. As we did not regain compliance with the Minimum Bid Requirement during the Compliance Period, we applied to transfer the listing of our common stock to the Nasdaq Capital Market, as allowed under Nasdaq Listing Rule 5810(c)(3)(A), in order to qualify for an additional 180 calendar day period to regain compliance. 

On January 2, 2025, we received written notice from Nasdaq notifying us that our application to transfer the listing of our common stock to The Nasdaq Capital Market was approved. The approval was based upon the Company meeting the continued listing requirement for the market value of our publicly held shares and all other Nasdaq initial listing standards, with the exception of the bid price requirement, and a written notice of our intention to cure the deficiency during the second compliance period by effecting a reverse stock split if necessary, our agreement to the conditions outlined in the Nasdaq listing requirements, and additional supporting information provided in our application. 

Our common stock was transferred to The Nasdaq Capital Market on January 6, 2025, and we will be granted an additional 180 calendar days to regain compliance with the Minimum Bid Requirement. To regain compliance with the Minimum Bid Requirement, the closing bid price of our common stock must be at least $1.00 for a minimum of 10 consecutive business days at any time during this additional 180-day compliance period. If we regain compliance with the Minimum Bid Requirement, Nasdaq will provide us with written confirmation of compliance and will close the matter. If we do not regain compliance with the Minimum Bid Requirement during the additional 180-day compliance period, Nasdaq will provide written notification to us that our common stock will be delisted. In the event we receive notice that our common stock is being delisted, we would be entitled to appeal the determination to a Nasdaq Listing Qualifications Panel and request a hearing.  There can be no assurance that, if the Company does appeal any delisting determination by Nasdaq to the hearings panel, such appeal would be successful.

The delisting of our common stock from Nasdaq may