SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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|Item 3.01.||Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer or Listing.|
On July 28, 2020, Teligent, Inc. (the “Company”) received a notice (the “Notice”) from The Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5450(b)(3)(C) (the “MVPHS Rule”) because the Company failed to maintain a minimum market value of publicly held shares of $15 million for 30 consecutive days. The Notice has no immediate effect on the Company’s Nasdaq listing or trading of the Company’s common stock.
The Company has a compliance period for the MVPHS Rule of 180 calendar days, or until January 25, 2021, in which to regain compliance. If, at any time before that date the Company’s minimum market value of publicly held shares closes at $15 million or more for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it has achieved compliance with the Rule.
If the Company does not regain compliance by January 25, 2021, then Nasdaq will notify the Company that the Company’s common stock will be delisted from the Nasdaq Global Market, unless the Company requests a hearing before a Nasdaq Hearings Panel.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: July 31, 2020||By:||/s/ Philip K. Yachmetz|
|Name:||Philip K. Yachmetz|
|Title:||Chief Legal Officer & Secretary|