UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On November 21, 2023, Lucid Diagnostics Inc. (the “Company”) received a notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that the Company was no longer in compliance with the Equity Standard for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(1)(A) requires companies on the Nasdaq Global Market to maintain a minimum of $10,000,000 of stockholders’ equity for continued listing under the Equity Standard. Because the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023 reported stockholders’ equity of $2,556,000 (and because the Company does not meet the alternative standards for Market Value or Total Assets/Total Revenue), the Company has fallen out of compliance with the continued listing standards for the Nasdaq Global Market.
In order to resolve this expeditiously, the Company intends to apply immediately to transfer the listing of its common stock to the Nasdaq Capital Market, as it currently would comply with that trading market’s continued listing standards. The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as the Nasdaq Global Market.
The Nasdaq notification has no effect at this time on the listing of the Company’s common stock, and the common stock will continue to trade uninterrupted under the symbol “LUCD.”
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
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: November 24, 2023 | LUCID DIAGNOSTICS INC. | |
| By: | /s/ Dennis McGrath | |
| Dennis McGrath | ||
| Chief Financial Officer | ||