Scorpius Holdings, Inc. Receives Notice of Listing Delinquency and Possible Delisting

Strategic Insights -

Scorpius Holdings, Inc. (the "Company") recently received a notice from the NYSE Regulation stating that the Company is not in compliance with the continued listing standards of the NYSE American LLC due to its failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2024. The Company was due to file the report on or before April 15, 2025, but was unable to do so due to time constraints imposed by the compilation, dissemination, and review of the financial information required to be presented in the report. The Company is now subject to the procedures and requirements set forth in Section 1007 of the NYSE American Company Guide, which includes a six-month period during which the Exchange will monitor the Company's status and the Delinquent Report.

Key Takeaways:

  • The Company received a notice from the NYSE Regulation on April 16, 2025, stating that it is not in compliance with the continued listing standards of the NYSE American LLC.
  • The Company failed to timely file its Annual Report on Form 10-K for the year ended December 31, 2024, due to time constraints imposed by the compilation, dissemination, and review of the financial information required to be presented in the report.
  • The Company is subject to the procedures and requirements set forth in Section 1007 of the NYSE American Company Guide, which includes a six-month period during which the Exchange will monitor the Company's status and the Delinquent Report.
  • The Company has a right to a review of the staff's determination to delist the Company's common stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the NYSE American.
  • The Company currently intends to request a review of the staff's determination but there is no assurance that the appeal will be successful.

Statistics:

  • The Company's common stock was suspended on April 21, 2025, by the NYSE Regulation.
  • The Company is required to file its Delinquent Report within a six-month period.
  • The Company has a right to an additional six-month cure period if the Initial Cure Period is not successful.
  • The Company will be subject to suspension and delisting procedures if it fails to file the Delinquent Report and any subsequent delayed filings by the end of the additional six-month cure period.

Sources:

  • SEC Form 8-K dated April 16, 2025
  • SEC Form 8-K dated April 21, 2025