- Scorpius Holdings (SCPX, Financial) faces potential delisting from NYSE American due to low stock price.
- Company failed to file required Form 10-K by the April 15 deadline, triggering a non-compliance notice.
- Scorpius intends to appeal the delisting decision and aims to comply with SEC requirements.
Scorpius Holdings (SCPX), an integrated contract development and manufacturing organization, has received a notice of delisting from the NYSE American exchange due to its low stock price, currently at $0.068, markedly below the minimum requirement of $0.20. Additionally, the company has not complied with the requirement to file its Form 10-K for the fiscal year ended December 31, 2024, by the April 15, 2025, deadline.
The company's management cited time constraints and potential undue hardship and expense as reasons for the delay in filing within their 12b-25 notification. They plan to appeal the delisting decision by requesting a review from the Exchange's Listings Qualifications Panel. However, Scorpius acknowledges that there is no assurance of a favorable outcome.
Despite the uncertainties surrounding the appeal, CEO Jeff Wolf has stated that Scorpius is committed to achieving full compliance with SEC regulations and will continue to update shareholders and the market on their progress. The delayed filing and low share price present compounded compliance challenges for the company, which only heightens the urgency for a successful appeal.
With its micro-cap market valuation standing at approximately $850,718, Scorpius faces significant obstacles in the appeal process, making its commitment to transparency and shareholder value of critical importance.
