UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
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(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:
Securities registered pursuant to Section 12(b) of the Act:
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| Name of each exchange on which registered |
Warrants to Purchase Common Stock |
| LEXXW |
| The The Nasdaq Capital Market |
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
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. ☐
Item 8.01 Other Events
Cure of Nasdaq Bid Price Deficiency
On November 3, 2023, Lexaria Bioscience Corp. (the “Company”) received a letter from the listing qualifications department staff of The Nasdaq Stock Market (“Nasdaq”) confirming that the closing bid for the Company’s common stock during the eleven (11) consecutive business days from October 19, 2023 to November 2, 2023 had been at or greater than $1.00 and therefore compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq had been regained.
Warrant Exercises
Since October 24, 2023, the Company has received notices of warrant exercise for the issuance of an aggregate 468,279 common shares (the “Warrant Shares”) at an exercise price of $0.95 per Warrant Share resulting in gross proceeds of $444,865.05 payable to the Company. The Warrant Shares have been registered with the SEC under an S-1 Registration Statement under file number 333-271096.
Pre-Funded Warrant Exercises
Pursuant to our Registered Direct Financing that closed on October 3, 2023, we have received a request for the exercise of 303,058 pre-funded warrants at an exercise price of $0.0001 for gross proceeds of $30.31 payable to the Company. The pre-funded warrant shares have been registered with the SEC under an S-3 Registration Statement under file number 333-262402.
The Company currently has 9,752,259 common shares issued pursuant to the noted warrant and pre-funded warrant exercises.
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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.
LEXARIA BIOSCIENCE CORP. |
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/s/ Chris Bunka |
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Chris Bunka |
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CEO, Principal Executive Officer |
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Date: November 3, 2023 |
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Cover |
Nov. 03, 2023 |
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| Cover [Abstract] | |
| Entity Registrant Name | LEXARIA BIOSCIENCE CORP. |
| Entity Central Index Key | 0001348362 |
| Document Type | 8-K |
| Amendment Flag | false |
| Entity Emerging Growth Company | false |
| Document Period End Date | Nov. 03, 2023 |
| Entity File Number | 000-52138 |
| Entity Incorporation State Country Code | NV |
| Entity Tax Identification Number | 20-2000871 |
| Entity Address Address Line 1 | 100 – 740 McCurdy Road |
| Entity Address City Or Town | Kelowna |
| Entity Address State Or Province | BC |
| Entity Address Postal Zip Code | V1X 2P7 |
| City Area Code | 250 |
| Local Phone Number | 765-642 |
| Security 12b Title | Common Stock, par value $0.001 per share |
| Trading Symbol | LEXX |
| Security Exchange Name | NASDAQ |
| Entity Address Country | CA |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |