Inspire Veterinary Partners Receives Notice of Nasdaq Compliance Issues

Inspire Veterinary Partners, Inc. (NASDAQ:IVP) recently encountered compliance issues with Nasdaq, according to a Form 8-K filing submitted to the Securities and Exchange Commission.

On December 12, 2024, Inspire Veterinary Partners received a letter from Nasdaq’s Listing Qualifications Staff indicating that the company had met the minimum equity requirement in Listing Rule 5550(b)(1) as mandated by the Hearing Panel. The company will now be subject to a Mandatory Panel Monitor until December 12, 2025, as per Listing Rule 5815(d)(4)(B).

Following a review of a previous offering that closed on July 12, 2024, Nasdaq determined that it did not meet the criteria of a “public offering” under shareholder approval rules. As a result, Inspire Veterinary Partners was supposed to obtain shareholder approval before issuing the securities but failed to do so. Post-execution shareholder ratification was later secured, and a Public Reprimand Letter was issued by the Panel to resolve the matter.

In a subsequent development on December 16, 2024, the company received another letter from Nasdaq indicating that it was not in compliance with the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2). The company’s common stock did not meet the minimum bid price for the preceding 30 consecutive business days. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), Inspire Veterinary Partners has been granted a grace period of 180 days, ending on June 16, 2025, to rectify the non-compliance issue and meet the Minimum Bid Price Requirement.

The Form 8-K filing also included the required signature of Kimball Carr, the President and Chief Executive Officer of Inspire Veterinary Partners, dated December 17, 2024. The company has assured compliance efforts to address the concerns raised by Nasdaq within the stipulated timelines to maintain its listing on the Nasdaq Capital Market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Inspire Veterinary Partners’s 8K filing here.

Inspire Veterinary Partners Company Profile

Inspire Veterinary Partners, Inc owns and operates veterinary hospitals in the United States. The company specializes in small animal general practice hospitals, which serve companion pets, canine, and feline breeds, including equine care. Its hospitals provide preventive care for companion animals consisting of annual health exams and parasite control; dental health; nutrition and body condition counseling; neurological examinations; radiology; bloodwork; and skin and coat health, and other breed specific preventive care services.