UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01. Notice of Delisting of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported, Avalon GloboCare Corp., a Delaware corporation (the “Company”) filed a certificate of amendment to its Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware to effectuate a reverse stock split of the Company’s common stock at a ratio of 1-for-15 (the “Reverse Split”), and such Amendment became effective at 5:00 PM ET on October 25, 2024. On October 29, 2024, the Company received notice from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company failed to regain compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), since the Reverse Split did not occur at least ten business days prior to the deadline of on or before October 28, 2024, which serves as basis for the delisting of the Company’s securities from Nasdaq. The Company plans to submit an appeal on or before November 5, 2024, in order to stay the delisting of the Company’s securities from Nasdaq and request a hearing to address the bid price deficiency before the Nasdaq Hearings Panel. The Company expects to be able to address the bid price deficiency as a result of the completion of the Reverse Split.
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 hereunto duly authorized.
| AVALON GLOBOCARE CORP. | ||
| Dated: November 1, 2024 | By: | /s/ Luisa Ingargiola |
| Name: | Luisa Ingargiola | |
| Title: | Chief Financial Officer | |