Company: PIII
Filing Date: 2025-02-20
Form Type: PRE 14A
Source: 0001140361-25-005269
Chunk: 12

Company: P3 Health Partners Inc.
Filing Date: 2025-02-20
Form: PRE 14A
Chunk 12
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 was $0.18, as reported by The Nasdaq Capital Market.

On May 15, 2024, we received a written notification from The Nasdaq Stock Market LLC (“Nasdaq”) notifying us that we had failed to comply with the minimum bid price requirement because the bid price for our Class A common stock over a period of 30 consecutive business days prior to such date had closed below the minimum $1.00 per share requirement (the “Bid Price Requirement”) for continued listing on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we were provided an initial period of 180 calendar days, or until November 11, 2024, to regain compliance with the minimum Bid Price Requirement of $1.00 per share. We did not regain compliance with the Bid Price Requirement prior to November 11, 2024. On November 12, 2024, Nasdaq granted us an additional 180 calendar day period, or until May 12, 2025, to regain compliance with the Bid Price Requirement as we met the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and had provided written notice to Nasdaq of our intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If we cannot demonstrate compliance with the Bid Price Rule by May 12, 2025, Nasdaq will issue a staff delisting determination. In the event of such notification, we may appeal the Nasdaq staff’s determination to delist our securities to a Nasdaq Hearing Panel. There can be no assurance that the Nasdaq staff would grant our appeal for continued listing subsequent to any delisting notification.

If our Class A common stock is delisted from The Nasdaq Capital Market, we cannot assure you that our Class A common stock would be listed on another national securities exchange, a national quotation service, the over-the-counter markets or the pink sheets. Delisting from The Nasdaq Capital Market, or even the issuance of a notice of potential delisting, would also result in negative publicity, make it more difficult for us to raise additional capital, adversely affect the market liquidity of our securities, decrease securities analysts’ coverage of us or diminish investor, supplier and employee confidence.

Facilitation of Future Capital Raising

The Board believes it is critically important for the Company to maintain its flexibility in accessing the equity capital markets.