Summary by Moomoo AI
On March 6, 2024, ZyVersa Therapeutics, Inc., a biopharmaceutical company, received a Letter of Reprimand from the Nasdaq Staff for not complying with certain listing rules during its July 2023 public offering of common stock and warrants. The offering was deemed not to meet the definition of a 'Public Offering' under Nasdaq's rules because it was priced below the 'Minimum Price' and exceeded 20% of the outstanding shares without prior stockholder approval. Additionally, the company's repricing of warrants in July and September 2023 was aggregated with the offering, further reducing the offering price below the minimum threshold. Despite these issues, the Nasdaq Staff concluded that the company did not intentionally avoid compliance and noted no history of similar non-compliance. As a result...Show More