With Nasdaq delisting already initiated and SEC deregistration now effective, SLNO common stock will trade on OTC markets with minimal transparency. Existing shareholders face severe liquidity degradation and no ongoing financial disclosures. Traders should expect wide bid-ask spreads and potential for further price declines as institutional holders exit. No recovery catalyst is visible — this is a terminal public market exit absent a buyout.
Price Chart
Executive Summary
Soleno Therapeutics filed Form 15-12G to terminate its SEC registration under Section 12(g) and suspend reporting obligations, effective immediately. The filing states only one holder of record remains, and a Form 25-NSE was filed 10 days prior to delist from Nasdaq. This marks a complete exit from public markets — shareholders lose all SEC reporting transparency and liquidity, with shares likely moving to the OTC markets.
Key Facts
- Form 15-12G filed to terminate registration under Section 12(g) and suspend Section 13/15(d) reporting duties
- Only one holder of record remains as of certification date (May 28, 2026)
- Form 25-NSE filed 10 days earlier (May 18, 2026) to delist from Nasdaq
- Company was formerly known as Capnia, Inc. (name change 2010)
- President and Secretary Darin M. Lippoldt signed the filing
Financial Impact
Complete loss of public market liquidity and SEC reporting — no financial figures available in filing
Risk Factors
- OTC trading will have severely reduced liquidity and wider spreads
- No future SEC filings means zero transparency on financials or operations
- Potential acceleration of stock price decline as remaining holders exit
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 15-12G Filing (Primary) | 0001193125-26-245197 |
| Document: 0001193125-26-245197-index-headers.html | 0001193125-26-245197 |
| Document: 0001193125-26-245197-index.html | 0001193125-26-245197 |
| Document: 0001193125-26-245197.txt | 0001193125-26-245197 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | Institutional Cluster | — | awaiting T+1 | — | — |
Jun 11, 2026 16w ago | Institutional Cluster | — | awaiting T+1 | — | — |
May 28, 2026 18w ago | 15-12G | — | awaiting T+1 | — | — |
May 28, 2026 18w ago | EFFECT | — | awaiting T+1 | — | — |
May 18, 2026 19w ago | 8-K / 25-NSE | $53.01 $53.01 | · 0.00% | ▲ +0.65% | — |
Apr 7, 2026 25w ago | 8-K | $52.35 $52.60 | ▼ −0.48% | ▲ +2.06% | — |
Apr 6, 2026 25w ago | 8-K | $52.25 $52.35 | ▲ +0.19% | ▲ +0.13% | — |
Mar 27, 2026 27w ago | Insider Cluster | $30.05 $30.44 | ▲ +1.30% | ▲ +1.66% | — |
Feb 26, 2026 31w ago | 8-K | $38.09 $39.07 | ▲ +2.57% | ▲ +3.03% | — |
Feb 25, 2026 31w ago | 8-K | $41.01 $38.09 | ▼ −7.12% | ▼ −6.57% | — |
US Market Status
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