SEC Filing Summary: Amedica Corporation (8-K)
Business Context and Reporting Period
This Form 8-K was filed by Amedica Corporation on August 19, 2016, reporting an event that occurred on August 17, 2016. The filing addresses a notification from the NASDAQ OMX Group regarding the company's compliance with continued listing standards. Note: The request metadata references "Sintx Technologies, Inc.," but the filing text explicitly identifies the registrant as "Amedica Corporation."
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the stock price performance: the bid price of the Company's common stock closed below the minimum $1.00 per share requirement for the last 30 consecutive trading days.
Material Changes
The material change reported is the failure to satisfy the minimum bid price requirement under Listing Rule 5550(a)(2) of The Nasdaq Capital Market. This deficiency was identified on August 17, 2016, based on the closing bid price over the preceding 30 trading days.
Outlook, Risks, and Management Commentary
- Immediate Status: The notification does not result in immediate delisting; the stock will continue to trade under the symbol "AMDA."
- Compliance Period: Amedica has been granted a 180-calendar day grace period, ending February 13, 2017, to regain compliance.
- Remediation Path: To regain compliance, the stock must close at or above $1.00 for a minimum of ten consecutive business days during the grace period.
- Secondary Grace Period: If compliance is not met within the initial 180 days, the Company may be eligible for an additional 180-day period if it meets other listing standards (excluding bid price) and intends to cure the deficiency, potentially via a reverse stock split.
- Risk of Delisting: If the Company fails to cure the deficiency or is ineligible for an additional grace period, the stock will be subject to delisting by Nasdaq.
Investor Verification Checklist
- Verify the current trading price of Amedica Corporation (AMDA) to assess proximity to the $1.00 threshold.
- Monitor the company's announcements regarding potential reverse stock splits to cure the deficiency.
- Review the press release dated August 19, 2016 (Exhibit 99.1) for additional management commentary.
- Confirm whether the company has met the market value of publicly held shares requirement, which is necessary for a second grace period.