CDIO 8-K — Smart Summary

Cardio Diagnostics Holdings, Inc. (Nasdaq: CDIO) received a second 180-day extension from Nasdaq to regain compliance with the Minimum Bid Price Requirement after failing to cure the deficiency during the initial compliance period.

• On June 3, 2024, the Company received the First Nasdaq Bid Price Letter indicating non-compliance with Nasdaq Listing Rule 5550(a)(2) because the Common Stock closed below the minimum $1.00 per share requirement
• The initial compliance period was 180 calendar days, running until December 2, 2024
• As of the date of the report, the Common Stock had not regained compliance with the Minimum Bid Price Requirement
• On December 4, 2024, Nasdaq issued the Second Nasdaq Bid Price Letter granting an additional 180 calendar day period, until June 2, 2025, to regain compliance (the 'Second Compliance Period')
• The extension was granted based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, except the Minimum Bid Price Requirement
• The extension was also based on the Company's written notice of its intention to cure the deficiency by effecting a reverse stock split, if necessary
• If a reverse stock split is implemented, it must be completed no later than ten business days prior to the end of the Second Compliance Period
• The Second Nasdaq Bid Price Letter has no immediate effect on the listing or trading of the Common Stock
• If compliance is not regained by June 2, 2025, Nasdaq will notify the Company that its securities are subject to delisting
• The Company may appeal any delisting determination to the Nasdaq Hearings Panel
• The Company's Common Stock trades under symbol CDIO and its Redeemable Warrants trade under symbol CDIOW, both on The Nasdaq Stock Market LLC