CDIO 8-K — Smart Summary

On June 3, 2024, Cardio Diagnostics Holdings, Inc. received a written notice from Nasdaq indicating non-compliance with Nasdaq Listing Rule 5550(a)(2) due to the Company's common stock minimum bid price falling below $1.00 per share for 30 consecutive business days. The Notice has no immediate effect on the listing or trading of the Company's common stock or warrants on the Nasdaq Capital Market.

• On June 3, 2024, the Company received a written notice from The Nasdaq Stock Market LLC regarding non-compliance with Nasdaq Listing Rule 5550(a)(2)
• Non-compliance reason: minimum bid price of the Company's common stock has been below $1.00 per share for 30 consecutive business days
• The Notice has no immediate effect on the listing or trading of the Company's common stock or warrants on the Nasdaq Capital Market
• The Company has 180 calendar days, until December 2, 2024 (the 'Compliance Date'), to regain compliance with the minimum bid price requirement
• Compliance can be regained if the bid price for the Common Stock closes at $1.00 per share or more for a minimum of ten consecutive business days before the Compliance Date
• If the Company does not regain compliance by December 2, 2024, it may be eligible for an additional 180 calendar day compliance period
• To qualify for the additional period, the Company must meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq Capital Market, except the minimum bid price requirement, and provide written notice to Nasdaq of its intention to cure the deficiency
• If the Company fails to regain compliance during the compliance period (including a second compliance period, if applicable), Nasdaq will notify the Company of its determination to delist its common stock
• The Company may appeal any Nasdaq delisting determination to a Nasdaq hearing panel
• The Company intends to actively monitor the closing bid price of its common stock and will consider all available options to regain compliance, which may include effecting a reverse stock split
• The Company's common stock trades under the symbol CDIO and its Redeemable Warrants trade under the symbol CDIOW, both on The Nasdaq Stock Market LLC
• Common Stock par value is $0.00001; each Redeemable Warrant is exercisable for one share of Common Stock