LogicMark, Inc. is transitioning to OTC Markets after Nasdaq delisting, aiming to maintain public capital access for growth.
Quiver AI Summary
LogicMark, Inc., a provider of personal emergency response systems and health communication devices, announced that its common stock will begin trading on the over-the-counter markets as of June 2, 2025, after being delisted from Nasdaq due to failing to meet the $1.00 minimum bid price requirement. CEO Chia-Lin Simmons highlighted that this transition will maintain public capital access while the company focuses on operations and long-term growth, bolstered by $15 million in cash and short-term investments. LogicMark remains committed to compliance with reporting requirements and is exploring different market tiers within OTC Markets, as well as the potential for a return to a national exchange. The company's mission is to enhance the independence and dignity of users through innovative care technology.
Potential Positives
- LogicMark’s common stock will continue trading on OTC Markets, ensuring access to public capital and maintaining investor confidence.
- The company reported $15 million in cash and short-term investments, indicating strong financial positioning to support future growth initiatives.
- LogicMark aims to potentially return to a national exchange, signaling aspirations for improvement and growth in trading status.
- The company remains committed to compliance with reporting obligations under the Securities Exchange Act, reinforcing transparency and accountability to investors.
Potential Negatives
- The company is being delisted from Nasdaq due to non-compliance with the minimum bid price requirement, which may negatively impact investor confidence and perception.
- Trading on the over-the-counter markets may result in reduced visibility and liquidity for the company's stock compared to its previous listing on Nasdaq.
- The uncertainty surrounding the company's ability to transition back to a national exchange may raise concerns about its long-term growth prospects.
FAQ
Why is LogicMark's stock moving to OTC Markets?
LogicMark is transitioning to OTC Markets due to Nasdaq's delisting for non-compliance with the $1.00 minimum bid price requirement.
What does OTC Markets mean for LogicMark investors?
The move allows LogicMark to maintain access to public capital while focusing on long-term growth and operational execution.
How will LogicMark continue reporting financial information?
LogicMark will remain a reporting entity under the Securities Exchange Act of 1934, ensuring ongoing disclosure of financial and operational information.
What is LogicMark's mission and focus?
LogicMark aims to enable individuals to lead dignified, independent lives through personal emergency response systems and innovative health communication technologies.
How is LogicMark enhancing its product distribution?
LogicMark distributes its products through the U.S. Veterans Health Administration and has a contract with the U.S. General Services Administration for broader access.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LGMK Hedge Fund Activity
We have seen 0 institutional investors add shares of $LGMK stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HRT FINANCIAL LP removed 22,722 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $34,083
- JANE STREET GROUP, LLC removed 22,509 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $33,763
- VANGUARD GROUP INC removed 18,939 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $28,408
- BAADER BANK AKTIENGESELLSCHAFT removed 18,691 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $28,036
- TOWER RESEARCH CAPITAL LLC (TRC) removed 16,579 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $24,868
- XTX TOPCO LTD removed 11,245 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $16,867
- UBS GROUP AG removed 6,501 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $9,751
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LOUISVILLE, Ky., June 02, 2025 (GLOBE NEWSWIRE) --
LogicMark, Inc.
(the “Company”), a provider of personal emergency response systems (“PERS”), health communication devices, and technology for the growing care economy, today announced that it expects that its common stock will begin trading on the over-the-counter markets (“OTC Markets”), effective today. The move to OTC Markets follows Nasdaq’s decision to delist the Company’s common stock at the opening of trading today, due solely to the Company’s non-compliance with Nasdaq’s $1.00 minimum bid price requirement.
Chia-Lin Simmons, CEO of LogicMark
, emphasized the importance of this transition, stating, “The ability to continue quotation of our common stock on the OTC Markets allows us to maintain access to public capital while continuing to focus on strengthening operational execution and preserving resources for long-term growth. Due to our successful capital-raising efforts this year, we reported $15 million in cash and short-term investments at the end of the first quarter, providing further runway to advance our strategic priorities. Our team is fully committed to compliance with applicable reporting obligations and delivering value to our shareholders, whom we thank for their continued support.”
The Company will continue to evaluate the various market tiers available within OTC Markets, as well as a possible return to a national exchange in the future. Investors are encouraged to visit the Company’s website and EDGAR page on sec.gov. The Company will remain a reporting entity subject to the Securities Exchange Act of 1934 with respect to continued disclosure of financial and operational information.
About LogicMark, Inc.
LogicMark, Inc. (OTC: LGMK) is on a mission to enable people of all ages to lead lives with dignity, independence, and the joy of possibility. LogicMark provides PERS, health communications devices, personal safety apps, services, and technologies to create a Connected Care Platform.
LogicMark is dedicated to building a ‘Care Village’ with proprietary technology and creating innovative solutions for the care economy. A team of leading technologists with a deep understanding of IoT, AI, and machine learning is passionately focused on understanding consumer needs. The Company’s PERS technologies are sold through the United States Veterans Health Administration, dealers, distributors, and directly to consumers. LogicMark has been awarded a contract by the U.S. General Services Administration that enables the Company to distribute its products to federal, state, and local governments. To learn more, visit
www.investors.logicmark.com
and
www.logicmark.com
.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to, among other things, the Company’s ability to list its common stock on a national exchange and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long-range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC. There can be no assurance that a broker will continue to make a market in the Company’s common stock or that trading of the common stock will continue on an over-the-counter market or elsewhere. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may differ materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. Any forward-looking statement made by us in this press release is based on information currently available to us and speaks only as of the date on which it is made. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances, or assumptions underlying such statements, or otherwise.
Investor Relations Contact:
investors@logicmark.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
