Polyrizon retains Nasdaq listing following hearings panel

Polyrizon (PLRZ) received a notification letter from the Nasdaq Hearings Panel granting the Company’s request for the continued listing of its securities on the Nasdaq Capital Market. As previously reported by the Company on May 23, the Listing Qualifications Department of The Nasdaq Stock Market issued a public interest determination under Listing Rule 5101, citing the Company’s issuance of securities in a private placement pursuant to the securities purchase agreement dated March 31, particularly the Series A warrants exercisable on an alternate cashless basis. In connection with the Private Placement, the Company issued an aggregate of 5,962,073 ordinary shares, which includes 5,829,389 ordinary shares issued upon the exercise of warrants on an alternate cashless basis. As of the date hereof, all of the warrants issued in the Private Placement have been exercised. A hearing before the Panel was held on June 26. At the hearing, Polyrizon presented its plan to address Nasdaq’s concerns, including a commitment to avoid the use of overly complex or inherently dilutive financing instruments in future capital-raising activities. On July 9, the Panel issued its determination, granting the Company’s request for continued listing on the Nasdaq Capital Market, subject to the Company regaining compliance with the Minimum Bid Price Rule by October 17.