Company: SNSE
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0000950170-25-048533
Chunk: 31

Company: Sensei Biotherapeutics, Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 31
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 minimum of 10 consecutive business days during the 180 calendar days following notification by Nasdaq, our common stock would be subject to delisting by Nasdaq.

As previously reported, on July 10, 2024, we received a letter from the Listing Qualifications Department of Nasdaq notifying us that the listing of our common stock was not in compliance with Nasdaq Listing Rule 5450(a)(1) for continued listing on the Nasdaq Global Market, as the minimum bid price of the Company’s common stock was less than $1.00 per share for the previous 30 consecutive business days. Under Nasdaq Listing Rule 5810(c)(3)(A), we had a period of 180 calendar days, or until January 6,

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2025, to regain compliance with the rule referred to in this paragraph. To regain compliance, during this 180-day compliance period, our minimum bid price of listed securities had to close at $1.00 per share or more for a minimum of 10 consecutive business days. Even if we did not regain compliance prior to the expiration of such 180-day compliance period, we would be eligible for additional time to regain compliance by transferring to the Nasdaq Capital Market.

We did not regain compliance with the minimum bid price rule prior to January 6, 2025. However, wewere notified by Nasdaq in a letter dated January 7, 2025 that our application to transfer to the Nasdaq Capital Market was approved and we are eligible for an additional 180 calendar day period, or until July 7, 2025, to regain compliance with the minimum bid price requirement. At the opening of business on January 8, 2025, our common stock was transferred to the Nasdaq Capital Market, where it continues to trade under the symbol “SNSE”.

Accordingly, the Board has adopted resolutions, subject to approval by our stockholders, to amend our amended and restated certificate of incorporation to effect the Reverse Stock Split and Authorized Shares Reduction of our common stock at a ratio in the range of one-for-10 to one-for-30 with such ratio to be determined in the discretion of the Board. These resolutions were approved as a means of regaining compliance with the minimum bid price requirement.

The Board’s primary objective in proposing the Reverse Stock Split and Authorized Shares Reduction is to raise the per share trading price of our common stock. The Board believes that the Reverse Stock Split and Authorized Shares Reduction will result in a