NexTech3D.AI Corp. C.NTAR

Up-list to Nasdaq in March or Feb?

[Shriver9]

When will Nextech be up-listed?  Companies that got up-listed to Nasdaq very recently might provide a clue:

1. KemPharm up-listed on Jan 8^th;  Public offering closed on Jan 12th

https://www.globenewswire.com/fr/news-release/2021/01/08/2155569/0/en/KemPharm-Announces-Pricing-of-50-Million-Public-Offering-of-Common-Stock-and-Warrants-and-Uplisting-to-The-Nasdaq-Capital-Market.html

2. Lexaria up-listed on Jan 12 ;  Public offering closed on Jan 14^th.  Reverse stock split 1 for 30.

https://ca.finance.yahoo.com/news/lexaria-bioscience-corp-announces-uplisting-120000252.html

3. Crown up-listed on Jan 26^th;  Public offering closed on Jan 28^th.  Reverse stock split 1 for 3.

https://www.prnewswire.com/news-releases/crown-electrokinetics-announces-pricing-of-19-million-public-offering-and-uplisting-to-the-nasdaq-capital-market-301214766.html

4. Cuentas up-listed on Feb 2^nd; Public offering closed on Feb 4^th. Reverse stock split 1 for 2.5

https://apnews.com/press-release/accesswire/technology-business-corporate-news-products-and-services-stock-offerings-9f2f5ca833c2b42604205d164c736e77

5. GT Biopharma up-listed on Feb 12^th; Public offering closed on Feb 16^th. Reverse stock split 1 for 17.

https://www.businesswire.com/news/home/20210211005288/en/GT-Biopharma-Announces-Pricing-of-23650000-Public-Offering-and-Uplisting-to-The-Nasdaq-Capital-Market

6. AmpliTech up-listed on Feb 17^th;  Public offering closed on Feb 19^th.  Reverse stock split 1 for 20.

https://www.newsfilecorp.com/release/74679/AmpliTech-Announces-Pricing-of-9.6-Million-Public-Offering-Uplisting-to-Nasdaq-and-Reverse-Stock-Split

In ALL these cases, approval from Nasdaq occurred very soon after a public announcement regarding a public offering and advising the SEC of the offering via Form S-1, but BEFORE the public offering closed. 

Both GT Bio and Crown state “In connection with the offering, Company has been approved for listing its common stock on the Nasdaq…”  In-fact the trigger for Nasdaq approval seems to be the submission of Form S-1.

Many of the above companies had to do a reverse split as their share price did not meet the minimum price for up-listing.  Nextech did not have to do this.

There seems to be no requirement for submission of a future Financial Report for Nasdaq approval.  All the above companies were up-listed in January and early February.  It is unlikely that they would have their Q4 financial reports ready to submit prior to up-list.

Lastly the link below provides more insight into the up-listing process:

https://financialpost.com/globe-newswire/pyrogenesis-provides-update-on-its-listing-application-with-nasdaq

It states “ Upon final NASDAQ approval, the Board of Directors of PyroGenesis will choose a listing date that will be most beneficial to the Company while taking into consideration other events that are taking place.”

What this might mean is that while Nasdaq approval could come as early as next week, the company can choose to delay the up-list to say, mid-March if it is beneficial to the company.