# EDGAR Filing Document

**Accession Number:** 0001029744
**File Stem:** 0001437749-23-000870
**Filing Date:** 2023-1
**Character Count:** 6020
**Document Hash:** 04496437a0d7985ef10d4522c15a2578
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-000870.hdr.sgml**: 20230111

**ACCESSION NUMBER**: 0001437749-23-000870

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230106

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**FILED AS OF DATE**: 20230111

**DATE AS OF CHANGE**: 20230111

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SONIC FOUNDRY INC
- **CENTRAL INDEX KEY:** 0001029744
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
- **IRS NUMBER:** 391783372
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14007
- **FILM NUMBER:** 23523670

**BUSINESS ADDRESS:**
- **STREET 1:** 222 W. WASHINGTON AVENUE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53703
- **BUSINESS PHONE:** 6084431600

**MAIL ADDRESS:**
- **STREET 1:** 222 W. WASHINGTON AVENUE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53703

sofo20230109_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM**8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934**

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| | | |
|:---|:---|:---|
| **January 6**, 2023**<br> Date of Report (Date of earliest event reported) | **January 6**, 2023**<br> Date of Report (Date of earliest event reported) | **January 6**, 2023**<br> Date of Report (Date of earliest event reported) |
| **Sonic Foundry, Inc.**<br> (Exact name of registrant as specified in its charter) | **Sonic Foundry, Inc.**<br> (Exact name of registrant as specified in its charter) | **Sonic Foundry, Inc.**<br> (Exact name of registrant as specified in its charter) |
| Maryland<br> (State or other jurisdiction<br> of incorporation) | 000-30407<br> (Commission<br> File Number) | 39-1783372<br> (IRS Employer<br> Identification No.) |

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| | |
|:---|:---|
| 222 W. Washington Ave<br> Madison, WI 53703<br> (Address of principal executive offices) | (608) 443-1600<br> (Registrant's telephone number) |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.01 par value | SOFO | Nasdaq Capital Market |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing**

On January 6, 2023, Sonic Foundry, Inc. (the "Company") was notified by The Nasdaq Stock Market LLC ("Nasdaq") that it is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2), because the closing bid price of the Company's common stock (the "Common Stock") was below $1.00 per share for 30 consecutive business days. The notification does not impact the listing of the Common Stock on The Nasdaq Capital Market at this time.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until July 5, 2023, to regain compliance with the minimum bid price requirement. During this period, the Common Stock will continue to trade on The Nasdaq Capital Market. If at any time before July 5, 2023, the bid price of the Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with this minimum bid price requirement.

In the event the Company does not regain compliance by July 5, 2023, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify for the additional 180-day period, the Company will be required to meet 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 will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Common Stock.

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SIGNATURES

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.

<u>Sonic Foundry, Inc.</u>

(Registrant)

January 11, 2023

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| | |
|:---|:---|
| By: | /s/ Kenneth A. Minor |
| By: | Kenneth A. Minor |
| Title: | Chief Financial Officer |

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