Summary by Moomoo AI
TC BioPharm (Holdings) PLC, a Scotland-based biopharmaceutical company, has announced in a Form 8-K filing with the SEC that it has potentially regained compliance with Nasdaq's minimum stockholders' equity requirement. The company was previously not in compliance due to its stockholders' equity falling below the required $2.5 million as of March 31, 2024. However, following a successful cash exercise of existing Series E warrants by certain holders, TC BioPharm received approximately $3.9 million before fees and expenses. This exercise resulted in the issuance of new Series F warrants, which could potentially bring the company's stockholders' equity above the Nasdaq threshold. The transaction was completed on May 8, 2024, and the company believes it now meets the Nasdaq Capital Market's listing requirements as of the date of the latest filing on May 20, 2024.