[8-K] Aurinia Pharmaceuticals Inc Reports Material Event

Rhea-AI Filing Summary

Society Pass Incorporated (Nasdaq: SOPA) has filed a Form 8-K dated 30 June 2025 to furnish unaudited condensed and pro-forma consolidated balance sheets. Management estimates stockholders’ equity at US$2,584,706 as of 30 June 2025, comfortably clearing the Nasdaq Capital Market’s US$2.5 million minimum equity requirement under Listing Rule 5550(b)(1).

The filing includes Exhibit 99.1, which presents (i) unaudited condensed consolidated balance sheets as of 31 May 2025 and (ii) unaudited pro-forma consolidated balance sheets as of 30 June 2025. Exhibit 104 provides the Cover Page Inline XBRL data. No other material transactions, earnings data, or operational updates are disclosed.

By confirming compliance with the equity threshold, the company mitigates an immediate delisting risk and preserves its Nasdaq listing status. However, the buffer above the requirement is relatively narrow (≈ US$84 thousand), indicating that equity levels will need ongoing monitoring.

Insights

Financial Analyst

TL;DR: SOPA’s equity tops Nasdaq minimum, avoiding delisting; cushion is slim, but near-term listing risk is removed.

The Form 8-K is narrowly focused on a single compliance metric—stockholders’ equity. Management’s pro-forma figure of US$2.58 million exceeds the US$2.5 million Nasdaq Capital Market requirement by roughly 3.4%. While the absolute buffer is only about US$84 k, it is sufficient for immediate compliance, which is positive for valuation stability and liquidity. No income-statement data or cash-flow details were provided, so investors cannot gauge broader financial health from this filing alone. Still, the avoidance of a potential delisting notice eliminates an overhang that could pressure the share price.

Corporate Governance Expert

TL;DR: Filing demonstrates proactive disclosure; meets equity rule, but monitoring required due to thin margin.

From a governance standpoint, timely disclosure via Form 8-K indicates the board’s commitment to transparency on listing compliance. Furnishing detailed pro-forma statements in Exhibit 99.1 gives regulators and investors visibility into equity calculations. However, the limited surplus above the Nasdaq threshold suggests the board should prioritize capital preservation or augmentation strategies to avoid future non-compliance. No other governance or control issues are noted in this filing.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2025

Aurinia Pharmaceuticals Inc.

(Exact name of registrant as specified in its charter)

Canada

001-36421

98-1231763

(State or Other Jurisdiction of Incorporation)

(Commission File No.)

(IRS Employer Identification No.)

#140, 14315 - 118 Avenue

Edmonton, Alberta

T5L 4S6

(250) 744-2487

(Address and telephone number of registrant's principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on which Registered

Common Shares, without par value

AUPH

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Item 8.01 Other Events

On June 30, 2025, Aurinia Pharmaceuticals Inc. (Aurinia or the Company) issued a press release announcing positive results from a Phase 1 study of aritinercept (AUR200). A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

The information in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached hereto, are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

The information contained in the press release and investor presentation is summary information that is intended to be considered in the context of our Securities and Exchange Commission filings and other public announcements that we may make, by press release or otherwise, from time to time. We undertake no duty or obligation to publicly update or revise such information, except as required by law.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.						Description
99.1						Aurinia Announces Positive Results from Phase 1 Study of Aritinercept (AUR200)
99.2						Aurinia's Investor Presentation, dated June 30, 2025
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 30, 2025

						AURINIA PHARMACEUTICALS INC.
			By:			/s/ Stephen P. Robertson
			Name:			Stephen P. Robertson
			Title:			EVP, General Counsel, Corporate Secretary and Chief Compliance Officer

FAQ

What equity level did Society Pass (SOPA) report in its 8-K filing?

Management estimates US$2,584,706 in stockholders’ equity as of 30 June 2025.

Why is the US$2.58 million equity figure important for SOPA investors?

It exceeds the US$2.5 million minimum required for continued listing on the Nasdaq Capital Market, reducing delisting risk.

Which exhibits accompany the SOPA Form 8-K dated 30 June 2025?

Exhibit 99.1 provides unaudited condensed and pro-forma balance sheets; Exhibit 104 contains the Cover Page Inline XBRL data.

Does the 8-K include earnings or cash-flow information?

No. The filing focuses solely on balance-sheet data to demonstrate compliance with Nasdaq equity requirements.

When was the SOPA Form 8-K signed and by whom?

It was signed on 30 June 2025 by Chief Executive Officer Raynauld Liang.