Date of Report (Date of earliest event reported): July 17, 2020



(Exact Name of Registrant as Specified in Charter)


Delaware   001-38105   81-3832378
(State or Other Jurisdiction
of Incorporation)
File Number)
  (IRS Employer
Identification No.)


30 Park Place, Suite 45E

New York, NY

(Address of Principal Executive Offices)   (Zip Code)


Registrant’s telephone number, including area code: (302) 502-2727


Not Applicable

(Former Name or Former Address, if Changed Since Last Report)


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 (see General Instruction A.2. below):


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))


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.


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 Stock, par value $0.0001 per share   KBLM   The NASDAQ Stock Market LLC
Warrants, each warrant exercisable for one-half of one share of Common Stock at an exercise price of $5.75 per half share   KBLMW   The NASDAQ Stock Market LLC
Rights, exchangeable into one-tenth of one share of Common Stock   KBLMR   The NASDAQ Stock Market LLC
Units, each consisting of one share of Common Stock, one Warrant and one Right   KBLMU   The NASDAQ Stock Market LLC






Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.


On June 2, 2020, KBL Merger Corp. IV (“KBL” or the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that it was no longer in compliance with the Nasdaq Listing Rules (the “Rules’).


In the Notice, Nasdaq advised KBL that, pursuant to Rule IM-5101-2, a special purpose acquisition company (“SPAC”) must complete one or more business combinations within 36 months of the effectiveness of the SPAC’s initial public offering. Since the Company’s registration statement for its initial public offering became effective on June 1, 2017, it was required to complete its initial business combination by no later than June 1, 2020. Such rule also provides that if the Company does not comply with the above requirement, Nasdaq will issue a Staff Delisting Determination under Rule 5810 to delist the Company’s securities.


Accordingly, Nasdaq advised KBL that its securities will be delisted from The Nasdaq Stock Market and, unless the Company requests an appeal of such determination, its securities would be suspended from trading at the opening of business on June 11, 2020 and a Form 25-NSE would be filed with the Securities and Exchange Commission removing the Company’s securities from listing and registration on the Nasdaq Stock Market.


The Company appealed the Staff’s delisting determination by requesting a hearing with a Nasdaq Hearings Panel (the “Panel”) pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The hearing was held on July 16, 2020.


On July 17, 2020, the Company received a letter stating that the Panel grants the Company’s request for continued listing through November 9, 2020 on the Nasdaq Capital Market, subject to the conditions set forth therein.






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.


Dated: July 23, 2020 KBL MERGER CORP. IV
  By: /s/ Marlene Krauss, M.D.
    Name: Marlene Krauss, M.D.
    Title: Chief Executive Officer