Lunai Bioworks Announces Receipt of Nasdaq Determination and Intention to Voluntarily Delist and Deregister

Lunai does not intend to arrange over-the-counter quotation and cannot assure a trading market after Nasdaq suspension.

Rhea-AI Summary

Lunai Bioworks (Nasdaq: LNAI) plans to voluntarily delist its common stock after receiving a Nasdaq determination to delist its securities. Nasdaq trading is expected to be suspended at the opening of business on October 30, 2026, and the company will not request a hearing.

The company reported a $9,024,946 stockholders' deficit for the fiscal year ended June 30, 2026, versus Nasdaq's $2,500,000 minimum equity requirement, and does not meet alternative standards. Its board approved voluntary withdrawal on October 22, citing the determination, financial condition and costs. Delisting is expected on or about November 12, 2026. Lunai also intends to suspend SEC reporting if eligible. It does not intend to arrange over-the-counter quotation and cannot assure any trading market after Nasdaq trading is suspended.

0 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 7 points

Hollow bars mark forward-looking points. How the balance works

Positive

• None.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Nasdaq delisting determination follows noncompliance while under a mandatory Hearings Panel Monitor; Lunai will not request a hearing.
• Moderate point$9,024,946 stockholders' deficit for fiscal 2026 falls short of Nasdaq's $2,500,000 minimum equity requirement.
• Moderate point. Forward-looking: it has not happened yet and may not happen.SEC reporting suspension is planned, subject to eligibility, ending those disclosures if implemented.
• Moderate point. Forward-looking: it has not happened yet and may not happen.No over-the-counter quotation arrangements are intended; a trading market after Nasdaq suspension cannot be assured.
• Minor pointAlternative listing standards for market value of listed securities or net income are not met.

2 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.Nasdaq trading suspension is expected at the opening of business on October 30, 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Voluntary delisting is board-approved and expected to become effective on or about November 12, 2026.

Argus 15 min delay 10 alerts

-19.15% vs previous close $0.38 last price 2.8x rel. volume Open Argus

Details

Market move: LNAI -19.15% vs previous close. Nasdaq delisting

-25.0% Trough in 1 min

$0.30 – $0.56 Day Range

$1.71M Mkt Cap at Last Price

On Oct 22, the day this news came out, the latest delayed price for LNAI is 19.15% below the previous close. Argus tracked a trough of -25.0% from its starting point during tracking. Our momentum scanner has recorded 10 alerts for this stock so far that day. The latest delayed price is $0.38. Relative volume is elevated at 2.8x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Minimum stockholders' equity requirement: $2,500,000 Stockholders' deficit: $(9,024,946) Trading suspension expected: October 30, 2026 +2 more

Minimum stockholders' equity requirement

$2,500,000

Nasdaq Listing Rule 5550(b)(1)

Stockholders' deficit

$(9,024,946)

Fiscal year ended June 30, 2026

Trading suspension expected

October 30, 2026

At the opening of business

Form 25 filing intended

On or about November 2, 2026

Nasdaq withdrawal process

Delisting expected to become effective

On or about November 12, 2026

Nasdaq delisting

Key Terms

form 25, form 15

2 terms

form 25 regulatory

"intends to file a Form 25 with the Securities and Exchange Commission"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

form 15 regulatory

"intends to file a Form 15 to suspend its SEC reporting obligations"

A Form 15 is a short filing a public company uses with the U.S. Securities and Exchange Commission to stop or pause its routine public reporting requirements when it meets certain legal thresholds (such as a low number of public shareholders) or other qualifying conditions. Investors should care because filing one typically means less public financial information and lower trading liquidity—similar to a shop taking down its public notice board, making it harder to track performance and buy or sell shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SACRAMENTO, Calif., Oct. 22, 2026 /PRNewswire/ -- Lunai Bioworks Inc. (Nasdaq: LNAI) (the "Company") announced that on October 21, 2026, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company no longer complies with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders' equity of $2,500,000. 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, and does not meet the alternative market value of listed securities or net income standards. Because the Company is subject to a mandatory Hearings Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(B), Nasdaq staff determined to delist the Company's securities. Trading in the Company's common stock on Nasdaq is expected to be suspended at the opening of business on October 30, 2026.

The Company will not request a hearing. Rather than contest the staff determination, the Company's Board of Directors approved on October 22, 2026 the voluntary withdrawal of the Company's common stock from listing on Nasdaq under Rule 12d2-2(c) under the Securities Exchange Act of 1934, as amended. The Board took this action because of the staff determination and the Company's financial condition, and concluded that the cost of continued listing and SEC reporting is not justified.

The Company notified Nasdaq of its intention on October 22, 2026. The Company intends to file a Form 25 with the Securities and Exchange Commission (the "SEC") on or about November 2, 2026, and expects the delisting to become effective on or about November 12, 2026. The Company then intends to file a Form 15 to suspend its SEC reporting obligations, to the extent it is eligible to do so. The Company's SEC reporting obligations will continue unless and until they are terminated or suspended in accordance with the SEC's rules.

The Company does not intend to arrange for quotation of its common stock on any over-the-counter market and cannot assure that any trading market for its common stock will exist after trading on Nasdaq is suspended.

Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the expected suspension of trading, the expected timing of the Form 25 and Form 15 filings, and the expected timing of delisting and deregistration. Actual results may differ materially due to risks and uncertainties, including Nasdaq and SEC procedures and the Company's financial condition. The Company undertakes no obligation to update these statements, except as required by law.

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SOURCE Lunai Bioworks Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Lunai Bioworks (LNAI) stop trading on Nasdaq and delist?

Nasdaq trading is expected to be suspended at the opening of business on October 30, 2026, with delisting expected on or about November 12, 2026. Lunai will not request a hearing to contest the Nasdaq staff determination.

Will Lunai Bioworks (LNAI) trade over the counter after leaving Nasdaq?

Lunai does not intend to arrange quotation on any over-the-counter market. The company cannot assure that any trading market for its common stock will exist after Nasdaq trading is suspended.

What SEC forms does Lunai Bioworks plan to file for delisting and reporting suspension?

Lunai intends to file Form 25 on or about November 2, 2026, followed by Form 15 to suspend SEC reporting obligations to the extent it is eligible. Its reporting obligations continue unless and until terminated or suspended under SEC rules.