04:24 PM EST, 01/17/2025 (MT Newswires) -- Wearable Devices ( WLDS ) said late Friday it has received a notification from Nasdaq stating that the company isn't in compliance with the exchange's minimum stockholders' equity requirement due to its failure to keep a minimum of $2.5 million in shareholders' equity.

The company said that in its Report of Foreign Private Issuer on Form 6-K dated Sept. 23, 2024, it reported shareholders' equity of about $1.7 million as of June 30 last year.

Wearable Devices ( WLDS ) said it expects to be able to show compliance with the Nasdaq rule as of Dec. 31, 2024, following the proceeds received under a standby equity purchase agreement with YA II PN as well as the company's registered direct offering and simultaneous private placement in November 2024.