08/31/2026 | Press release | Distributed by Public on 08/31/2026 14:59
| Item 8.01 | Other Events. |
On August 28, 2026, DNA X, Inc. (the "Company") received a letter from the Hearings Panel (the "Panel") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the Panel had determined that the Company has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires companies listed on the Nasdaq Capital Market to maintain stockholders' equity of at least $2.5 million (the "Stockholders' Equity Requirement"). Pursuant to the Panel's decision dated July 24, 2026, the Company's securities remain subject to delisting if the Company fails to maintain compliance with all Nasdaq Listing Rules until November 18, 2026.
Pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory panel monitor until August 28, 2027. If, within that one-year monitoring period, the Listing Qualifications Staff (the "Staff") of Nasdaq finds the Company again out of compliance with the Stockholders' Equity Requirement, then, notwithstanding Nasdaq Listing Rule 5810(c)(2), the Company will not be permitted to provide the Staff with a plan of compliance with respect to such deficiency and the Staff will not be permitted to grant additional time for the Company to regain compliance with respect to such deficiency, nor will the Company be afforded an applicable cure or compliance period pursuant to Nasdaq Listing Rule 5810(c)(3). Instead, the Staff will issue a delisting determination letter, and the Company will have an opportunity to request a new hearing with the initial Panel or a newly convened Panel if the initial Panel is unavailable. The Company will have the opportunity to present to the Panel as provided by Nasdaq Listing Rule 5815(d)(4)(C), and the Company's securities may be at that time delisted from Nasdaq.