UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 12, 2024 |
Meta Materials Inc.
(Exact name of Registrant as Specified in Its Charter)
Nevada | 001-36247 | 74-3237581 | ||
(State or Other Jurisdiction | (Commission File Number) | (IRS Employer | ||
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60 Highfield Park Dr |
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Dartmouth, Nova Scotia, Canada |
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(Address of Principal Executive Offices) |
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Registrant’s Telephone Number, Including Area Code: 902 482-5729 |
Not Applicable |
(Former Name or Former Address, if Changed Since Last Report)
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:
Securities registered pursuant to Section 12(b) of the Act:
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| Trading |
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Common Stock, par value $0.001 per share |
| MMAT |
| The Nasdaq Stock Market LLC |
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. ☐
Item 3.01. | Notice of Delisting or .Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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As previously reported, on March 20, 2023, Meta Material Inc. (the “Company”) received notice from The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) as the minimum bid price of the Company’s common stock, par value $0.001 per share (the “Common Stock”), had been trading below $1.00 per share for at least 30 consecutive trading days. In accordance with Nasdaq Listing Rules, Nasdaq originally granted the Company an initial period of 180 calendar days, or until September 18, 2023, to regain compliance with the Minimum Bid Price Requirement. On September 19, 2023, the Company received subsequent notice from Nasdaq that the Company was eligible for an additional 180-day period, or until March 18, 2024, to regain compliance with the Minimum Bid Price Requirement.
Further, on November 27, 2023, the Company received a notification letter from Nasdaq notifying the Company that the Company’s Common Stock had a closing bid price of $0.10 or less for ten consecutive trading days and that, consistent with Nasdaq Listing Rule 5810(c)(3)(A)(iii), the staff had determined to delist the Common Stock from The Nasdaq Capital Market, subject to the request of a hearing. On November 28, 2023, the Company timely submitted a request for a hearing before the Nasdaq Hearings Panel to appeal the delisting determination, which was granted by the Nasdaq Hearings Panel and a hearing was originally scheduled to occur on March 21, 2024 (subsequently changed to February 22, 2024).
On February 12, 2024, the Company received a letter from Nasdaq notifying the Company that it has regained compliance with the Minimum Bid Price Requirement, and consequently, the previously scheduled hearing was cancelled by the Nasdaq Hearings Panel. The Company is currently in full compliance with Nasdaq listing requirements and will continue trading on Nasdaq.
On February 13, 2024, the Company issued a press release announcing it has regained Nasdaq compliance. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. | Description | ||
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99.1 | |||
104 | Cover Page Interactive Data File (embedded within Inline XBRL document). |
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 thereunto duly authorized.
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| META MATERIALS INC. |
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Date: | February 13, 2024 | By: | /s/ Uzi Sasson |
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| Uzi Sasson |