Company: QTIWW
Filing Date: 2025-01-28
Form Type: 8-K
Source: 0001844505-25-000015
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Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-28
Form: 8-K
Item: Item 3.01
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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 announced in a Current Report filed with the Securities and Exchange Commission (the “ SEC”) on May 10, 2024, the Company received a written notice from the Listing Qualifications Department (the “ Staff”) of Nasdaq notifying the Company that, for the 30 consecutive business days prior to May 6, 2024, the Company’s Market Value of Listed Securities (“ MVLS”) was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “ MVLS Requirement”).

Furthermore, as previously announced in a Current Report filed with the SEC on June 17, 2024, the Staff notified the Company that the minimum bid price of the Company’s common stock had been below $1.00 per share for 30 consecutive business days, and, as a result, did not comply with Listing Rule 5450(a)(1) of the Nasdaq Listed Company Manual (the “ Price Rule”). In accordance with Listing Rule 5810(c)(3)(A), the Company was provided with 180 calendar days, or until December 16, 2024, to regain compliance with the Price Rule.

In addition, as previously announced in a Current Report filed with the SEC on September 10, 2024, the Staff notified the Company that, for the prior 31 consecutive business days, the Company’s Market Value of Publicly Held Securities (“ MVPHS”) was below the minimum of $15 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(c) (the “ MVPHS Requirement”).

Subsequently, and as previously announced in a Current Report filed with the SEC on November 12, 2024, the Staff notified the Company on November 6, 2024 that it had determined to commence proceedings to delist the common stock from Nasdaq due to its determination that the Company’s common stock is no longer suitable for listing because the Company’s market value of is listed securities fell below the minimum $50 million required for continued listing as set forth in MVLS Requirement, and the Company was unable to regain compliance with the MVLS Requirement by November 4, 2024. The Company proceeded to initiate an appeal (the “ Appeal”) of the Staff’s determination to commence