UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 1, 2021
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Dynatronics Corporation
(Exact name of registrant as specified in its charter)
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| Utah | | 0-12697 | | 87-0398434 |
| (State or other jurisdiction of incorporation) | | Commission File Number | | (IRS Employer Identification Number) |
| 1200 Trapp Rd, Eagan, Minnesota | | 55121 |
| (Address of principal executive offices) | | (Zip Code) |
| (801) 568-7000 | | |
(Registrant's telephone number, including area code) | | |
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 14(d)-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))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common stock, no par value | | DYNT | | The Nasdaq Capital Market |
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
As previously reported, on May 18, 2020, Dynatronics Corporation (the “Company”) received written notice from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it was not in compliance with the Nasdaq Listing Rule 5550(a)(2) because the closing bid price for the Company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days. The Company was provided an initial grace period to regain compliance, which ended on December 28, 2020, and an additional 180 calendar day period, or until June 28, 2021, to regain compliance.
On February 1, 2021, the Company received written notice from Nasdaq that the Company had regained compliance with Nasdaq Listing Rule 5550(a)(2) because the Company’s common stock had closed at a bid price greater than $1.00 per share for at least 10 consecutive business days, from January 15, 2021 through January 29, 2021. As a result, Nasdaq has closed the matter.
SIGNATURE
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.
| | DYNATRONICS CORPORATION | |
| | | | |
Date: February 1, 2021
| By: | /s/ John Krier | |
| | | Name: John Krier | |
| | | Title: Chief Executive Officer | |
