OSR Health Denied Nasdaq Listing Appeal, Shares Move to OTC

What happened

OSR Health, Inc., a Bellevue, Washington-based maker of surgical and medical instruments, said on October 23, 2026 that a Nasdaq Hearings Panel denied its request for continued listing and decided to delist the company's securities from Nasdaq, according to an 8-K filed October 28.

Trading in the company's common stock (OSRH) and redeemable warrants (OSRHW) had already been suspended at the open on August 26, 2026, the filing states. The suspension followed the company's failure to meet the minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2).

The filing says the company's securities continue to be quoted on the over-the-counter market under the same symbols, and that the company is evaluating its options.

The shares closed at $0.144 on the event date, down 28.36% from the prior close of $0.201, according to the price data.

The company also furnished a press release dated October 28, 2026 as Exhibit 99.1 to the filing.

The filing

The disclosure sits in Item 3.01 of the Form 8-K, which is the item companies use to report a delisting notice, a failure to satisfy a continued listing rule, or a transfer of a listing.

The press release was disclosed under Item 7.01, Regulation FD. That rule requires companies to disclose material information to all investors at the same time rather than to selected analysts or shareholders. Information furnished under Item 7.01 is not treated as formally 'filed' with the SEC, which the filing states explicitly.

What this means

A Form 8-K is the current report public companies file when something material happens between quarterly reports. The numbered items tell readers what kind of event it covers.

Nasdaq Rule 5550(a)(2) is the minimum bid price rule: a listed company's shares must generally trade at or above $1. A stock that stays below that level for an extended period can be flagged for non-compliance. A company can then request a hearing before a Nasdaq Hearings Panel, which decides whether to grant more time or to delist. In this case the Panel denied the request and ordered the delisting.

Delisting means the stock is no longer traded on Nasdaq. It does not mean the company has dissolved or that the shares are worthless. The filing says the stock and warrants are now quoted over the counter under OSRH and OSRHW, a market where thinly traded securities can still change hands, typically with wider spreads and less visibility than an exchange listing.

A warrant gives the holder the right, but not the obligation, to buy shares at a set price. OSR Health's warrants carry an exercise price of $11.50 per share, far above the current share price.

The filing does not state the reason the share price fell below $1 in the first place, and it does not describe what specific options the company is evaluating. It only says the company is evaluating its options.