Amedica Corporation (NASDAQ:AMDA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing. Other Events.
On May 23, 2017, Amedica Corporation (the Company),
received a written notice (the Notice) from the Listing
Qualifications Department of The Nasdaq Stock Market
(NASDAQ) indicating that the Company is not in compliance
with Listing Rule 5250(c)(1) because the Company has failed to
file its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2017 (the Form 10-Q).
Under the NASDAQ Listing Rules, because the Company is also
delinquent on filing its Annual Report on Form 10-K for the
period ended December 31, 2016, the Company has until June 19,
2017 to submit a plan to NASDAQ as to how it plans to regain
compliance with NASDAQs continued listing requirements. If the
Company is still unable to file its Form 10-K and Form 10-Q by
that time, then the Company intends to submit a compliance plan
on or prior to that date. If NASDAQ accepts the Companys plan,
NASDAQ can grant an exception of up to 180 calendar days from the
filings due date, or until September 27, 2017, to regain
compliance. The Company may regain compliance at any time during
this 180-day period upon filing with the SEC its Form 10-K and
Form 10-Q, as well as all subsequent required periodic financial
reports that are due within that period. If NASDAQ does not
accept the Companys plan, Amedica will have the opportunity to
appeal that decision to a NASDAQ Hearings Panel.
The NASDAQ notification letter has no immediate effect on the
listing of the Companys common stock on the NASDAQ Capital
Market.
Item 7.01. Regulation FD Disclosure.
On May 26, 2017, the Company issued a press release announcing
that it has delayed the filing of its Quarterly Report on Form
10-Q for the quarter ended March 31, 2017. A copy of the press
release is furnished as Exhibit 99.1 to this Report.
In accordance with General Instruction B.2 of Form 8-K, the press
release is deemed to be furnished and shall not be deemed filed
for the purpose of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that
section, nor shall such information and Exhibit be deemed
incorporated by reference in any filing under the Securities Act
of 1933, as amended, or the Securities Exchange Act of 1934, as
amended.
Cautionary Note Regarding Forward-Looking Statements.
Except for historical information contained in this Form 8-K and
the press release attached as an exhibit hereto, this Form 8-K
and the press release contain forward-looking statements which
involve certain risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
these statements. Please refer to the cautionary note in the
press release regarding these forward-looking statements.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Amedica Corporation Press Release dated May 26, 2017. |
About Amedica Corporation (NASDAQ:AMDA)
Amedica Corporation is a commercial biomaterial company. The Company is a vertically integrated silicon nitride orthopedic medical device manufacturer. It is focused on using its silicon nitride ceramic technology platform to develop, manufacture and sell a range of medical devices. It is also engaged in developing wear- and corrosion-resistant implant components for hip and knee arthroplasty. The Company markets its Valeo family of silicon nitride interbody spinal fusion devices in the United States, Europe and Brazil for use in the cervical and thoracolumbar areas of the spine. In addition to its silicon nitride-based spinal fusion products, it markets a line of non-silicon nitride spinal surgery products, which allows the Company to provide surgeons and hospitals with a solution for spinal procedures. Its Valeo interbody spinal fusion devices include Anterior Lumbar, Posterior Lumbar, Oblique Lumbar, Transforaminal Lumbar, Lateral Lumbar, Cervical and Corpectomy. Amedica Corporation (NASDAQ:AMDA) Recent Trading Information
Amedica Corporation (NASDAQ:AMDA) closed its last trading session 00.000 at 0.365 with 152,756 shares trading hands.
