Syra Health Announces Voluntary Delisting from the Nasdaq Capital Market
Syra Health Corp. (NASDAQ: SYRA) has announced its voluntary delisting from the Nasdaq Capital Market, with the last trading day expected around April 21, 2025. The decision follows the company's non-compliance with Nasdaq's minimum $1.00 bid price requirement, which was notified on October 18, 2024.
The healthcare technology company plans to file Form 25 with the SEC around April 11, 2025. Management views this as a strategic pause to focus on strengthening core fundamentals and reducing Nasdaq-associated costs. The company expects its common stock to transition to the OTC market and intends to maintain shareholder communication, though trading continuity is not guaranteed.
Syra Health Corp. (NASDAQ: SYRA) ha annunciato il suo delisting volontario dal Nasdaq Capital Market, con l'ultimo giorno di contrattazione previsto intorno al 21 aprile 2025. La decisione segue la non conformità dell'azienda con il requisito di prezzo minimo di offerta di $1.00 del Nasdaq, notificato il 18 ottobre 2024.
La società di tecnologia sanitaria prevede di presentare il Modulo 25 alla SEC intorno all'11 aprile 2025. La direzione considera questa una pausa strategica per concentrarsi sul rafforzamento dei fondamenti principali e sulla riduzione dei costi associati al Nasdaq. L'azienda si aspetta che le sue azioni ordinarie passino al mercato OTC e intende mantenere la comunicazione con gli azionisti, anche se la continuità della contrattazione non è garantita.
Syra Health Corp. (NASDAQ: SYRA) ha anunciado su exclusión voluntaria del Nasdaq Capital Market, con el último día de negociación previsto alrededor del 21 de abril de 2025. La decisión sigue a la falta de cumplimiento de la empresa con el requisito de precio mínimo de oferta de $1.00 del Nasdaq, notificado el 18 de octubre de 2024.
La empresa de tecnología sanitaria planea presentar el Formulario 25 a la SEC alrededor del 11 de abril de 2025. La dirección ve esto como una pausa estratégica para enfocarse en fortalecer los fundamentos centrales y reducir los costos asociados al Nasdaq. La empresa espera que sus acciones comunes pasen al mercado OTC e intende mantener la comunicación con los accionistas, aunque la continuidad de la negociación no está garantizada.
Syra Health Corp. (NASDAQ: SYRA)는 Nasdaq Capital Market에서 자발적으로 상장 폐지한다고 발표했으며, 마지막 거래일은 2025년 4월 21일 경으로 예상됩니다. 이 결정은 2024년 10월 18일에 통보된 Nasdaq의 최소 $1.00 입찰 가격 요구 사항을 준수하지 않은 데 따른 것입니다.
이 헬스케어 기술 회사는 2025년 4월 11일 경에 SEC에 Form 25를 제출할 계획입니다. 경영진은 이를 핵심 기초를 강화하고 Nasdaq 관련 비용을 줄이는 데 집중하기 위한 전략적 일시 중지로 보고 있습니다. 회사는 자사의 보통주가 OTC 시장으로 전환될 것으로 예상하며, 주주와의 소통을 유지할 계획이지만 거래의 연속성은 보장되지 않습니다.
Syra Health Corp. (NASDAQ: SYRA) a annoncé son retrait volontaire du Nasdaq Capital Market, avec le dernier jour de négociation prévu autour du 21 avril 2025. Cette décision fait suite à la non-conformité de l'entreprise avec l'exigence de prix d'offre minimum de 1,00 $ du Nasdaq, notifiée le 18 octobre 2024.
L'entreprise de technologie de la santé prévoit de soumettre le Formulaire 25 à la SEC autour du 11 avril 2025. La direction considère cela comme une pause stratégique pour se concentrer sur le renforcement des fondamentaux clés et la réduction des coûts associés au Nasdaq. L'entreprise s'attend à ce que ses actions ordinaires passent au marché OTC et prévoit de maintenir la communication avec les actionnaires, bien que la continuité des échanges ne soit pas garantie.
Syra Health Corp. (NASDAQ: SYRA) hat seine freiwillige Delistung vom Nasdaq Capital Market angekündigt, wobei der letzte Handelstag voraussichtlich um den 21. April 2025 liegt. Die Entscheidung folgt auf die Nichteinhaltung der Mindestanforderung von $1,00 für das Angebotspreis von Nasdaq, die am 18. Oktober 2024 mitgeteilt wurde.
Das Unternehmen für Gesundheitstechnologie plant, am 11. April 2025 das Formular 25 bei der SEC einzureichen. Das Management sieht dies als strategische Pause, um sich auf die Stärkung der Kernfundamente und die Reduzierung der mit Nasdaq verbundenen Kosten zu konzentrieren. Das Unternehmen erwartet, dass seine Stammaktien in den OTC-Markt übergehen, und beabsichtigt, die Kommunikation mit den Aktionären aufrechtzuerhalten, obwohl die Kontinuität des Handels nicht garantiert ist.
- Strategic cost reduction by eliminating Nasdaq listing expenses
- Management's proactive approach to address financial challenges
- Delisting from Nasdaq indicates significant financial challenges
- Stock price consistently below $1.00 for 30+ consecutive days
- Potential reduced stock liquidity after moving to OTC markets
- No guarantee of continued trading market for shares
- Loss of prestige and visibility associated with Nasdaq listing
Insights
Syra Health's announcement of voluntary delisting from Nasdaq represents a significant negative development for shareholders. While framed as a strategic decision to reduce costs, this move is directly tied to the company's non-compliance with Nasdaq's
Transitioning to OTC markets typically results in reduced liquidity, decreased institutional investor participation, and diminished market visibility. These markets have less stringent listing and reporting requirements, which often translates to wider bid-ask spreads and potentially more volatile trading. The company's language about a "strategic pause" suggests this may be temporary, but re-listing would require significant operational improvements and share price recovery.
For context, voluntary delistings outside of acquisition scenarios are rarely positive signals. While the
Syra Health's delisting decision reveals critical corporate governance concerns. The company's characterization of this move as "proactive" conflicts with the disclosed Nasdaq compliance issues. When management frames a regulatory compliance failure as a strategic initiative, it raises questions about transparency and communication integrity with shareholders.
The board's approval of voluntary delisting rather than pursuing alternative compliance strategies (reverse stock split, capital raising, etc.) suggests either severe financial limitations or a strategic pivot away from public market scrutiny. The latter would be troubling given the company's stated mission as a healthcare technology innovator, where access to public capital markets typically provides advantages.
The timing is particularly notable - Syra is delisting just days before their compliance deadline expires, indicating this wasn't their preferred outcome but a last resort. Their commitment to "continue providing information to shareholders" lacks specificity about what level of transparency they'll maintain beyond minimum requirements. The cautionary language that "there is no guarantee that a broker will continue to make a market" signals potential liquidity challenges that contradict their optimistic framing of this transition. This governance decision fundamentally alters shareholder rights and investment characteristics without requiring a shareholder vote.
CARMEL, Ind., April 1, 2025 /PRNewswire/ -- Syra Health Corp. (NASDAQ: SYRA) ("Syra Health" or the "Company"), a healthcare technology company dedicated to powering better health through innovative technology products and services, announced today that it has given formal notice to the Nasdaq Stock Market of its intention to voluntarily delist its common stock from the Nasdaq Capital Market.
The Company currently anticipates that it will file with the Securities and Exchange Commission (the "SEC") a Form 25, Notification of Removal of Listing and/or Registration Under Section 12(b) the Exchange Act, relating to the delisting on or about April 11, 2025, with the delisting of its common stock taking effect no earlier than ten days thereafter. As a result, the Company expects that the last trading day of its common stock on the Nasdaq Capital Market will be on or about April 21, 2025.
Following a thorough and extensive evaluation, the Executive Management team and Board of Directors have decided that a delisting is warranted, and a strategic pause will allow for improved focus on strengthening the Company's core fundamentals while reducing the Company's costs associated with a Nasdaq listing. This is a proactive measure in which management believes the Company will be better enabled to enhance operational efficiencies, optimize its financial health, and generate sustainable long-term growth.
As previously reported, on October 18, 2024, the Company received written notice from the Nasdaq Stock Market, LLC indicating that the bid price for the Company's common stock, for the last 30 consecutive business days, had closed below the minimum
The Company expects that its common stock will be listed on the OTC market until such time it decides to reapply and receives approval to relist on a national securities exchange. The Company intends to continue providing information to its shareholders and taking actions within its control to facilitate the quoting of its common stock on the OTC market, so that a trading market may continue to exist for its common stock. However, there is no guarantee that a broker will continue to make a market in the common stock or that trading of the common stock will continue on the OTC market or elsewhere.
About Syra Health
Syra Health is a healthcare technology company powering better health in critical areas such as mental health, population health, and the healthcare workforce. The company's leading-edge technology products and innovative services focus on prevention, access, and affordability. With a commitment to improving health, Syra Health is advancing healthcare solutions nationwide and around the world.
Forward-Looking Statements
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include but are not limited to, statements relating to the expected use of proceeds, the Company's operations and business strategy, and the Company's expected financial results. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained in this press release are based on management's current expectations and are subject to substantial risks, uncertainty, and changes in circumstances. Investors should read the risk factors set forth in our Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by federal securities laws, the Company specifically disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts
For Media Inquiries:
Christine Drury
Director of Corporate Communications
Syra Health
463-345-5180
christined@syrahealth.com
For Investor Inquiries:
Corbin Woodhull
Managing Director, Global Advisory
Hayden IR
602-476-1821
corbin@haydenir.com
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SOURCE Syra Health
FAQ
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