Sprouts Farmers Market closes $600 million revolving credit facility
Femto Technologies Inc., a prepackaged software services company, has received a notification from The Nasdaq Stock Market LLC indicating its decision to delist the company’s securities. This decision, made under Nasdaq’s discretionary authority per Listing Rule 5101, was communicated to Femto Technologies on Thursday.
The delisting notice follows Femto Technologies’ private placement transaction completed on February 26, 2025, where the company issued an aggregate of 4,076,736 units at $4.17 each. These units included common shares or pre-funded warrants, Series A warrants for additional common shares, and Series B warrants. The Series A and Series B warrants could potentially convert into 27,960,512 and 201,315,663 common shares, respectively.
Furthermore, on the same date, Femto Technologies entered into a warrant exchange agreement that could lead to the issuance of approximately 123,142,329 additional common shares. Nasdaq’s staff pointed to the significant dilution of existing shareholders due to the cashless exercise and "alternative exercise" of these warrants as the reason for the delisting determination.
Femto Technologies plans to appeal the decision to a Hearings Panel, according to the procedures in the Nasdaq Listing Rule 5800 Series. The filing of an appeal will stay the suspension of the company’s securities until the Panel’s decision is made. The information is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.