Apr. 29 at 2:04 PM
$SCYX As stated in their rationale for the May 19th meeting:
“Without the Reverse Stock Split, the Company may be unable to regain compliance with Nasdaq’s minimum bid price listing requirements by June 15, 2026,”
If they have receive a letter stating they are compliant, but do not notify its shareholders, they will create legal risks. This is a significant event. They need to disclose any update on compliance which would impact how one votes. Obviously, the June 15th date would no longer be relevant if they regained compliance.
It is possible that Nasdaq has put a more strict requirement on SCYX (rare). That too would be significant, given they stated the 10-day rule.
I await the news. Latest I could imagine an update would be Monday. But typically, the compliance letter happens soon after compliance with a 1 to 3 day reporting requirement.