Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
CBRX > SEC Filings for CBRX > Form 8-K on 24-Apr-2013All Recent SEC Filings

Show all filings for COLUMBIA LABORATORIES INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for COLUMBIA LABORATORIES INC


24-Apr-2013

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or S


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On April 23, 2013, Columbia Laboratories, Inc. (the "Company") received notification (the "Nasdaq Letter") from Nasdaq Stock Market ("Nasdaq") indicating that the Company's application to list its common stock on the Nasdaq Capital Market has been approved. The Nasdaq Capital Market is one of the three markets for Nasdaq-listed stock and operates in the same manner as the Nasdaq Global Market. The Company's shares, which were previously traded on the Nasdaq Global Market, will transfer to and begin trading on the Nasdaq Capital Market under its current symbol "CBRX" at the market opening on April 25, 2013. The Nasdaq Letter also states that the Company (1) has not been able to regain compliance with Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Requirement") within the initial 180 day compliance period and (2) is eligible for an additional 180 calendar days from the date of the Nasdaq Letter, or until October 21, 2013, to come into compliance with the Minimum Bid Price Requirement.

As previously disclosed, on October 24, 2012, the Company received notification from Nasdaq that the bid price of its common stock had not met the minimum bid price of $1.00 per share required under the Minimum Bid Price Requirement for continued listing on the Nasdaq Global Market. Under Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days in which to regain compliance with the Minimum Bid Price Requirement.

If, at any time prior to October 21, 2013, the closing bid price of the Company's shares is at least $1.00 per share for a minimum of 10 consecutive business days, unless the Nasdaq staff exercises its discretion to extend the 10-day period, the Nasdaq staff will provide to the Company written confirmation of compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance with the Minimum Bid Price Requirement by October 21, 2013, the Nasdaq staff will provide to the Company written notification that the Company's shares are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel.

In any event, to meet the Minimum Bid Price Requirement to maintain its listing on the Nasdaq Capital Market, the Company may have to effect a reverse stock split, which would require the approval of the Company's stockholders. Toward this end, the Company has filed with the SEC a Proxy Statement on Form 14A in connection with its upcoming Annual Meeting of Stockholders seeking among other things stockholder approval of a proposal authorizing the Company's Board of Directors to amend the Company's Certificate of Incorporation to effect a reverse stock split to combine a number of outstanding shares of our common stock up to ten (10), such number consisting of only whole shares, into one
(1) share of common stock, which ratio is to be designated by the Company's Board of Directors.


  Add CBRX to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for CBRX - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.