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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 9/22/22 Clearone Inc. 8-K:3,9 9/22/22 12:151K Genesis Filings LLC/FA |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 35K 7: R1 DEI Document HTML 46K 10: XML IDEA XML File -- Filing Summary XML 12K 8: XML XBRL Instance -- clro-20220922_htm XML 14K 9: EXCEL IDEA Workbook of Financial Reports XLSX 8K 4: EX-101.CAL XBRL Calculations -- clro-20220922_cal XML 7K 2: EX-101.DEF XBRL Definitions -- clro-20220922_def XML 7K 5: EX-101.LAB XBRL Labels -- clro-20220922_lab XML 49K 3: EX-101.PRE XBRL Presentations -- clro-20220922_pre XML 38K 6: EX-101.SCH XBRL Schema -- clro-20220922 XSD 15K 11: JSON XBRL Instance as JSON Data -- MetaLinks 11± 16K 12: ZIP XBRL Zipped Folder -- 0001753926-22-001287-xbrl Zip 14K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM i 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): i September 22, 2022 (September 20, 2022)
i ClearOne, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
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i 87-0398877 |
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(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
i 5225 Wiley Post Way, Suite 500, i Salt Lake City, i Utah |
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i 84116 |
(Address of principal executive offices) |
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(Zip Code) |
+1 i (801) i 975-7200
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
i ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
i ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
i ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
i ☐ |
Pre-commencement communication pursuant to Rule 13e-4© under the Exchange Act (17 CFR 240.13e-4©) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company i ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities Registered Pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
i Common Stock, $0.001 |
i CLRO |
The i NASDAQ Capital Market |
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported, on March 22, 2022, ClearOne, Inc., a Delaware corporation (the “Company”), received a letter from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that, because the closing bid price for its common stock had been below $1.00 per share for 30 consecutive business days, it is no longer in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed companies to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 days, or until September 19, 2022, to regain compliance with the Minimum Bid Requirement.
On September 20, 2022, the Company received a letter from Nasdaq advising that the Company has been granted a 180-day extension to March 20, 2023 to regain compliance with the Minimum Bid Price Requirement, in accordance with Nasdaq Listing Rule 5810(c)(3)(A).
The Company will continue to monitor the closing bid price of its common stock and consider implementing available options to regain compliance with the Minimum Bid Price Requirement. Specifically, the Company has confirmed to Nasdaq that, if necessary, it will implement a reverse stock split of its outstanding common stock (if approved by the Company’s stockholders) to regain compliance. If the Company does not regain compliance within the allotted compliance period, Nasdaq will provide notice that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement during this 180-day extension.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number |
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Exhibit Title |
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104.1 |
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The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
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.
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CLEARONE, INC. |
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Date: September 22, 2022 |
By: |
/s/ Narsi Narayanan |
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Chief Financial Officer (Principal Accounting and Principal Financial Officer) |
This ‘8-K’ Filing | Date | Other Filings | ||
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Filed on / For Period end: | 9/22/22 | None on these Dates | ||
List all Filings |