( MENAFN - PR Newswire) HOUSTON, May 24, 2024 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX ), a physician-led, technology -enabled integrated health care delivery system comprised of 21 state-of-the-art micro hospitals in nine states and primary care-centric, risk-bearing physician networks, today announced that it had had received a staff determination letter on May21, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, due to the Company's non-compliance with the minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"), the Company's Common Stock would be scheduled for delisting from The Nasdaq Capital Market and would be suspended for trading at the opening of business on May 30, 2024 unless the Company timely requests a hearing before an independent Nasdaq Hearings Panel (the "Panel") by May 28, 2024.
On May 23, 2024, the Company submitted a request for a hearing to appeal the Staff's delisting determination. Also on May 23, 2024, Nasdaq notified the Company that the delisting action has been stayed, pending a final decision by the Panel. A hearing has been scheduled for July 9, 2024.
The Company intends to provide its written submission by the expedited review deadline of May 30, 2024. Based on such submission, the Panel may determine that an oral hearing is not necessary to grant the Company an exemption to g.
