UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 8.01 – Other Events.
On August 24, 2022, T2 Biosystems, Inc. (the “Company”) received written notice (the “Compliance Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(b)(2) (“Rule 5550(b)(2)”) which requires that companies listed on the Nasdaq Capital Market maintain a minimum Market Value of Listed Securities, as defined by Nasdaq (“MVLS”), of $35 million or greater.
As previously reported, on July 22, 2022, the Company received a letter from Nasdaq indicating that, for the previous thirty consecutive business days, the Company’s MVLS had been below the $35 million minimum requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company had been provided an initial period of 180 calendar days from the Nasdaq notification, or until January 18, 2023, to regain compliance. To regain compliance, the Company was required to maintain an MVLS of $35 million or greater for a minimum of ten consecutive business days.
Nasdaq notified the Company in the Compliance Notice that, from August 10, 2022 to August 23, 2022, the Company’s MVLS had been $35 million or greater and, accordingly, the Company had regained compliance with Nasdaq Listing Rule 5550(b)(2) and that the matter was now closed.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: August 30, 2022 | T2 BIOSYSTEMS, INC. | |||||
| By: | /s/ John Sprague | |||||
| Name: | John Sprague | |||||
| Title: | Chief Financial Officer | |||||
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