DFP Healthcare Acquisitions Receives Nasdaq Notice of Minimum Bid Price Noncompliance

DFP Healthcare Acquisitions (OTCMKTS:DFPHU) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission its receipt of a notice from The Nasdaq Stock Market LLC indicating a noncompliance issue related to the minimum bid price requirement for continued listing on The Nasdaq Capital Market.

The notice, dated December 19, 2024, highlighted that the company’s common stock had closed below the minimum $1.00 per share requirement, leading to the noncompliance with Nasdaq Listing Rule 5550(a)(2). In response, Nasdaq granted DFP Healthcare Acquisitions an initial period until December 17, 2024, to regain compliance. However, as of the reporting date, the company had not met this requirement.

Following this, a subsequent letter dated December 19, 2024, informed DFP Healthcare Acquisitions that it is eligible for an additional 180-day compliance period until June 16, 2025. This “Second Compliance Period” allows the company time to address the deficiency by effecting a reverse stock split, if necessary, to meet the Minimum Bid Price Requirement. The company aims to resolve this issue within the extended period and is considering all available options to regain compliance.

In the event that DFP Healthcare Acquisitions fails to meet the requirements by the end of the Second Compliance Period, Nasdaq may initiate the delisting process. The company retains the right to appeal this decision before the Nasdaq Hearings Panel, although the outcome of such an appeal is uncertain.

Investors are cautioned that forward-looking statements included in the report, particularly concerning the company’s intention to address the bid price noncompliance, are not historical facts and are subject to risks and uncertainties outlined in the company’s regulatory filings with the SEC.

The company commits to keeping the market informed of any developments regarding this matter in compliance with applicable securities laws. For a comprehensive financial picture, interested parties are advised to review the company’s latest Annual and Quarterly Reports filed with the SEC.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DFP Healthcare Acquisitions’s 8K filing here.

DFP Healthcare Acquisitions Company Profile

DFP Healthcare Acquisitions Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.