Cero Therapeutics discloses Nasdaq Panel listing determination

CERo Therapeutics (CERO) “announced the receipt of the determination of the Nasdaq Hearings Panel to deny the Company’s request to continue the listing of its shares of common stock on Nasdaq. As previously disclosed, the Company has not been in compliance with the requirement set forth in Nasdaq Listing Rule 5550(b)(1) to maintain stockholders’ equity of at least $2.5 million. In January 2025, a previous Nasdaq panel provided the Company with an extension until April 22, 2025 to obtain compliance with the Equity Rule. On April 22, 2025, the Company announced that, following the completion of a financing round including the issuance of shares of Series D Convertible Preferred Stock in exchange for marketable securities of another public company convertible under its terms into shares of common stock of such other public company with an aggregate value of $5 million, as well as the application of the proceeds of its February 2025 public offering of shares of common stock and warrants and the proceeds of sales under its equity line of credit, as well as successful negotiations with service providers to reduce outstanding balances payable, the Company believed it had regained compliance with the Equity Rule, subject to Nasdaq’s determination. On May 7, 2025, the previous Nasdaq panel issued a determination that the Company had regained compliance with the Equity Rule.”