Lunai Bioworks Inc.: Nasdaq delisting notice, stockholders’ deficit $(9,024,946)

What happened

• The company reported that on Oct 21, 2026 it received a letter from the Nasdaq listing qualifications department notifying it that it no longer complies with Nasdaq Listing Rule 5550(b)(1) (minimum stockholders’ equity of $2,500,000) and that Nasdaq staff determined to delist the company’s securities. The company reported a stockholders’ deficit of $(9,024,946) in its Annual Report on Form 10-K for the fiscal year ended June 30, 2026.
• The company said it will not request a hearing by the Oct 28, 2026 deadline. On Oct 22, 2026 the board approved voluntary withdrawal of the common stock from listing on Nasdaq and from registration under Section 12(b) of the Exchange Act, provided written notice to Nasdaq that day, and intends to file Form 25 on or about Nov 2, 2026 with an expected delisting effective on or about Nov 12, 2026. The company also intends to file Form 15 to suspend reporting obligations if eligible.

Key details

• Nasdaq notice received: Oct 21, 2026. Deadline to request hearing: Oct 28, 2026. Trading suspension if no hearing: opening of business Oct 30, 2026.
• Stockholders’ deficit reported: $(9,024,946) for fiscal year ended June 30, 2026.
• Board action: approved voluntary withdrawal and provided written notice to Nasdaq on Oct 22, 2026; plans to file Form 25 on or about Nov 2, 2026 and expects delisting effective on or about Nov 12, 2026.
• Other items: termination of ATM sales agreement with Dawson James Securities, Inc. on Oct 16, 2026; post-effective amendments filed on Oct 22, 2026 to deregister unsold securities under Forms S-8 and S-3; press release issued Oct 22, 2026.

Why it may matter

• Item reported: 3.01 (notice of delisting or failure to satisfy a continued listing rule) and related Items 5.02 (departure of director leading to audit committee noncompliance), 7.01 (regulation FD disclosure), and 8.01 (other events).
• Item 3.01 covers Nasdaq’s determination that the company does not meet continued listing standards and the company’s decision to withdraw its listing and pursue deregistration under the Exchange Act.
• A filing does not show why the insider traded or why the company acted.