PetVivo Holdings, Inc., a Nevada-based medical device company, is set to be delisted from the Nasdaq Stock Market following noncompliance with the exchange's listing requirements. The company, which specializes in surgical and medical instruments, received a Form 25 Notification of Delisting from Nasdaq on Friday, signaling the end of its tenure on one of the world's premier stock exchanges.
According to the Securities and Exchange Commission (SEC) filing, Nasdaq's decision to delist PetVivo's common stock and warrants was due to a failure to meet the minimum required market value of publicly held shares. Nasdaq suspended trading of the company's securities on April 9, 2024, and the delisting will become official ten days after the Form 25 filing.
PetVivo's securities will not cease trading entirely, however. The company's common stock and warrants, previously traded under the symbols "PETV" and "PETVW" respectively, have already found a new home on the OTCQB Venture Market since July 29, 2024. The OTCQB is a platform for early-stage and developing U.S. and international companies that are committed to providing a high-quality trading and information experience for their U.S. investors.
The transition to the OTCQB Market means that PetVivo's securities will continue to be available for trading under the same symbols, allowing current and prospective investors to buy and sell shares. The OTCQB Market is recognized by the SEC as an established public market for the purpose of determining the public market price when registering securities for resale with the SEC.
PetVivo Holdings, Inc., operating under the Organization Name "08 Industrial Applications and Services," is headquartered in Edina, Minnesota. The company's focus is on the production of medical devices for the treatment of animals with diseases such as osteoarthritis.
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