Form 8-K Current Report
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): July 19, 2006
SIGA
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
0-23047
|
13-3864870
|
|
(State
or other jurisdiction of
incorporation
or organization)
|
(Commission
file number)
|
(I.R.S.
employer
identification
no.)
|
|
420
Lexington Avenue, Suite 408
New
York, New York
(Address
of principal executive offices)
|
|
10170
(Zip
code)
|
Registrant’s
telephone number, including area code: (212) 672-9100
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):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
3.01. Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing.
On
July
19, 2006, SIGA Technologies, Inc. (“SIGA”) received notice from the Nasdaq Stock
Market (“NASDAQ”) that for the last 10 consecutive trading days, SIGA’s market
value of listed securities has been below the $35,000,000 minimum required
for
continued inclusion on the Nasdaq Capital Market under Marketplace Rule
4310(c)(2)(B)(ii). In accordance with Marketplace Rule 4310(c)(8)(C), SIGA
will
be provided with 30 calendar days, until August 18, 2006, to regain compliance.
If, at any time before August 18, 2006, the market value of listed securities
of
SIGA is $35,000,000 or more for a minimum of 10 consecutive business days,
NASDAQ will determine if SIGA complies with Marketplace Rule 4310(c)(2)(B)(ii).
If compliance with the rule cannot be demonstrated by August 18, 2006, the
staff
of the NASDAQ Stock Market will provide written notification to SIGA that its
securities will be delisted. At that time, SIGA may appeal such determination
to
a listing qualification panel.
In
addition, the NASDAQ notice also stated that, based on SIGA’s Form 10-Q for the
period ending March 31, 2006, SIGA no longer complies with Marketplace Rule
4310(c)(2)(B)(i) or (4310)(c)(2)(B)(iii), which require minimum stockholders’
equity of $2,500,000 or net income from continuing operations of $500,000 in
the
most recently completed fiscal year or in two of the last three most recent
completed fiscal years.
SIGA
intends to monitor the market value of its listed securities between now and
August 18, 2006, and consider available options if its common stock does not
trade at a level likely to result in SIGA regaining compliance with the minimum
market value requirement.
On
February July 25, 2006, SIGA issued a press release announcing that it had
received the above described notice from NASDAQ. A copy of the press release
is
attached hereto as Exhibit 99.1.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits
|
Exhibit
No.
|
Description
|
|
99.1
|
Press
Release, dated July 25, 2006.
|
2
SIGNATURE
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.
SIGA TECHNOLOGIES, INC.
By: /s/
Thomas N. Konatich
Name: Thomas
N.
Konatich
Title: Acting
Chief Executive Officer
and
Chief
Financial Officer
Date: July
25,
2006
3