aibioReShape Lifesciences (now Vyome Holdings) says equity tops Nasdaq $2.5 million minimum
Tickers HIND
ReShape says sales under its at-the-market program and a June 9 offering have lifted its stockholders' equity above the $2.5 million Nasdaq minimum. The company says that does not guarantee it will stay listed.
Key facts
- Company
- Vyome Holdings, Inc. (NASDAQ: HIND)
- News type
- Listings
- Primary source
- Vyome Holdings, Inc. 8-K (2025-06-18)
The Nasdaq notice and the equity test
ReShape Lifesciences Inc., now named Vyome Holdings, Inc., said in a Form 8-K dated June 18, 2025 that its stockholders' equity is now above the level Nasdaq requires. The company had received a notice on May 28, 2025 from the Listing Qualifications Department of The Nasdaq Stock Market. That notice said the company's securities were subject to delisting for continued non-compliance with Listing Rule 5550(b)(1). The rule requires companies on the Nasdaq Capital Market to keep at least $2.5 million in stockholders' equity.
The filing repeats the company's equity figure as of March 31, 2025, which was $1.2 million. That is the number that put ReShape below the minimum. The 8-K does not give a new equity figure after the June sales, so the claim that equity is now above $2.5 million rests on the company's own statement.
How the sales changed the position
Between June 3 and June 6, 2025, ReShape sold 593,000 shares of common stock for gross proceeds of $3,642,564. The sales were made under an equity distribution agreement with Maxim Group LLC in an at-the-market offering, which the company had described in its prospectus supplement filed June 9, 2025. The 8-K does not state the average price per share or the commissions paid on these sales.
On June 9, 2025, the company completed a public offering of 1,054,604 shares for gross proceeds of $2,636,510. The 8-K says that offering was disclosed in an earlier 8-K filed June 12, 2025. Together, the two raises are what the company credits with lifting equity above the minimum.
The 8-K says the company's equity is greater than $2.5 million as of the filing date. It then cautions that this fact does not guarantee the securities will not be delisted from Nasdaq. The filing does not say how the company will keep meeting the equity test from one quarter to the next.
The hearing request
The company says it timely requested a hearing before a Nasdaq Hearings Panel. Under the filing, that request stays any suspension or delisting action until the panel issues its decision and any extra period the panel grants has run out. The 8-K does not say when the hearing will be held, and it does not say what the panel will require beyond the equity test.
The 8-K is signed by Paul F. Hickey, the chief executive officer.
The business behind the listing
The company's annual report for 2024, filed April 4, 2025, describes ReShape as a physician-led weight-loss company whose core product is the Lap-Band System. The report also covers the Lap-Band 2.0 FLEX system, which the FDA approved in December 2023, and it says the company expects new surgeons to adopt the newer band.
The annual report says the company's 2024 cost reduction plan led to approximately 43% lower operating expenses in 2024 than the year before, excluding one-time costs. It also says early metrics from marketing changes show higher Lap-Band procedures, despite the spread of GLP-1 receptor agonists, including Wegovy, Ozempic and Zepbound. The company attributes those gains to its marketing changes.
The company also describes a diabetes device under development, and an Obalon Balloon system it expects to access late in 2025 through an OEM partner. The 8-K does not describe either product.
What comes next
The 8-K sets no hearing date and no further compliance deadline. The company says the hearing request will keep the listing in place while the panel decides, but it does not say whether the sales it has made will be enough to hold the equity test at a later date.