Dextera Surgical, Inc. (NASDAQ:DXTR) 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 Continued Listing Rule or Standard; Transfer of Listing.

On June 1, 2017, Dextera Surgical Inc. (the “Company”) received a letter from the listing qualifications department staff of the NASDAQ Stock Market (“NASDAQ”) notifying the Company that for the last 30 consecutive business days the bid price of the Company’s common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of NASDAQ listing rule 5550(a)(2).

In accordance with listing rule 5810(c)(3)(A), the Company has 180 calendar days, or until October 29, 2017, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days before October 29, 2017.

If the Company’s common stock does not achieve compliance by October 29, 2017, the Company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and provides written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to the NASDAQ staff that the Company will not be able to cure the deficiency, or if the Company does not meet the other listing standards, NASDAQ could provide notice that the Company’s common stock will become subject to delisting. In the event the Company receives notice that its common stock is being delisted, NASDAQ rules permit the Company to appeal any delisting determination by the NASDAQ staff to a Hearings Panel.

The Company intends to actively monitor the closing bid price of its common stock between now and October 29, 2017, and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.

About Dextera Surgical, Inc. (NASDAQ:DXTR)

Dextera Surgical Inc., formerly Cardica, Inc., designs and manufactures stapling devices that enable the advancement of minimally invasive surgical procedures. The Company is engaged in commercializing and developing its MicroCutter 5/80 stapler based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons. Its MicroCutter 5/80 is a commercially available cartridge-based microcutter device with approximately five millimeter shaft diameter, over 80 degrees of articulation, and an approximately 30 millimeter staple line cleared for specified indications for use in the United States, and in the European Union (EU) for a range of indications for use. It designs, manufactures and markets automated anastomotic systems used by surgeons to perform anastomoses during on- or off-pump coronary artery bypass graft procedures and these products include the C-Port xA system, the C-Port Flex A system and the PAS-Port Proximal Anastomosis System.

Dextera Surgical, Inc. (NASDAQ:DXTR) Recent Trading Information

Dextera Surgical, Inc. (NASDAQ:DXTR) closed its last trading session down -0.014 at 0.210 with 6,143,276 shares trading hands.