PRESBIA PLC (NASDAQ:LENS) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

PRESBIA PLC (NASDAQ:LENS) 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.

As previously disclosed, on November 20, 2017, Presbia PLC (the “Company”) received notice from the Nasdaq Stock Market LLC (the “Notice”) that the Company’s stockholders’ equity as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 does not satisfy the Nasdaq Global Market continued listing requirement set forth in Nasdaq Stock Market Rule 5450(b)(1)(A), which requires the Company to maintain at least $10 million of stockholders’ equity(the “Rule”).

The Company decided to transfer the listing of its ordinary shares to the The NASDAQ Capital Market, which requires the Company to maintain at least $2.5 million of stockholders’ equity.On February 12, 2018, the Company received notification from NASDAQ that the Company’s application to list its shares on The NASDAQ Capital Market had been approved.The Company’s ordinary shares will be transferred from The NASDAQ Global Market to The NASDAQ Capital Market effective at the opening of business on February 14, 2018.The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as The NASDAQ Global Market. All companies whose securities are listed on The NASDAQ Capital Market must meet certain financial requirements and adhere to NASDAQ's corporate governance standards. The Company's common stock will continue to trade under the symbol "LENS".


About PRESBIA PLC (NASDAQ:LENS)

Presbia PLC is an ophthalmic device company. The Company develops and markets an optical lens implant for treating presbyopia, the age-related loss of the ability to focus on near objects. The Company’s segment is the restoration of clear vision caused by presbyopia. The Company provides the refractive lens for patient surgeries and accessories for procedures performed exclusively outside the United States. The Company’s lens, referred to as the microlens, is a miniature lens designed to be surgically implanted in a patient’s eye to improve that patient’s ability to see objects at close distances. The microlens is a disc shaped lens that has a refractive zone in the periphery designed to improve near vision problems associated with presbyopia and a central zone that is designed to improve distance vision. The Company’s solution is a standalone solution for plano presbyopes, or those individuals suffering from presbyopia but do not have any other visual disorders.

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