UNITED STATES
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

May 1521, ~~2020Date~~2020 (May 18, 2020)Date of Report (Date of earliest event reported)

POSITIVE PHYSICIANS HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

Pennsylvania	001-38814	83-0824448
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Ident. No.)

100 Berwyn Park, Suite 220

850 Cassatt Road, Berwyn, PA

19312

(Address of principal executive offices)

(Zip Code)

(888) 335-5335
Registrant’s telephone number, including area code

N/A
(Former name or former address, if changed since last report.)

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:

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock

PPHI

The NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company. ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 83.01 ~~Other~~. Notice ~~Events~~of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

~~Due~~On toMay ~~the outbreak of~~18, ~~and local~~2020, ~~state and federal governmental responses to, the COVID-19 coronavirus pandemic,~~ Positive Physicians Holdings, Inc. (the “Company”) isreceived ~~filing~~a ~~this~~written ~~Current~~notice ~~Report~~(the on“Notice”) ~~Form~~from ~~8-K~~the toListing ~~report~~Qualifications ~~that~~Department itof ~~will~~The beNasdaq ~~relying~~Stock onMarket ~~an order issued by the Securities and Exchange Commission~~ (~~the~~ “~~SEC~~Nasdaq”) onindicating ~~March~~that ~~25,~~the ~~2020~~Company ~~(which~~is ~~extended~~not ~~and~~in ~~superseded~~compliance awith ~~prior~~Listing ~~order~~Rule ~~issued on March~~ 5550(a)(4~~, 2020~~), ~~pursuant~~due to ~~Section~~the 36Company’s offailure ~~the~~to ~~Securities~~meet ~~Exchange~~the ~~Act~~minimum ~~of 1934~~500,000 aspublicly ~~amended~~held ~~(Release~~shares ~~No.~~requirement ~~34-88465)~~for ~~(the~~continued ~~“Order”)~~listing ~~modifying~~on ~~exemptions from~~ the ~~reporting~~Nasdaq ~~and~~Capital ~~proxy delivery requirements for public companies~~Market. The ~~Order~~Notice ~~allows~~is only a ~~registrant~~notification ~~to delay the filing~~ of ~~certain reports required to be filed with the SEC~~deficiency, ~~including~~not ~~its~~of ~~Form~~imminent ~~10-Q for the quarterly period ended March 31~~delisting, ~~2020,~~and uphas tono ancurrent ~~additional~~effect 45on ~~days after~~ the ~~original~~listing ~~due~~or ~~date~~trading ifof athe ~~registrant~~Company’s ~~ability~~securities toon ~~file~~the ~~such~~Nasdaq ~~report~~Capital ~~timely is affected due to COVID-19~~Market.

The ~~Company’s~~Notice ~~operations~~states ~~and~~that ~~business~~the ~~have~~Company ~~experienced~~has ~~disruptions~~until ~~due~~July to2, ~~the~~2020 ~~conditions~~to ~~surrounding~~submit ~~the~~a ~~COVID-19~~plan ~~pandemic~~to ~~spreading~~regain ~~throughout~~compliance ~~the~~with ~~United~~Listing ~~States~~Rule ‎‎5550(a)(4). ~~These~~ ~~disruptions~~The ~~include,~~Company ~~but~~intends ~~are~~to ~~not~~respond ~~limited~~within ~~to: office~~the ~~closures~~required timeframe and ~~difficulties~~is inevaluating ~~maintaining~~its ~~operational~~options ~~continuance~~regarding ~~during~~a ~~remote~~‎plan ~~operations~~that ~~required~~it bymay ~~illness,~~submit ~~social~~in ~~quarantining,~~response ~~and~~to ~~work~~the ~~from~~Notice. ~~home~~If ~~orders~~Nasdaq ~~currently~~accepts inthe ~~force. The~~ Company’s ~~management~~plan, ~~has~~Nasdaq ~~devoted~~may ~~substantial~~grant ~~time~~the ~~and~~‎Company ~~attention~~an toextension ~~assessing~~of ~~the~~up ~~potential~~to ~~impact~~180 ofcalendar ~~COVID-19~~days ~~and~~from ~~those~~the ~~events~~date onof the ~~Company’s~~Notice ~~operations~~to ~~and~~evidence ~~financial~~compliance ~~position~~with ~~and~~Listing ~~developing~~‎Rule ~~operational~~5550(a)(4). ~~and~~If ~~financial~~Nasdaq ~~plans~~does tonot ~~address~~accept ~~those~~the ~~matters~~Company’s plan, ~~which~~the ~~has~~Company ~~diverted~~will ~~management~~have ~~resources from completing all of~~ the ~~tasks~~opportunity ~~necessary~~ to ~~file~~appeal ‎the ~~Form~~decision ~~10-Q~~in ~~for~~front ~~first~~of ~~quarter~~a byNasdaq ~~its~~Hearings ~~May 15, 2020 due date~~Panel.‎

~~As a result, the Company is relying on the Order and delaying the filing of the Form 10~~Forward-~~Q. The~~looking ~~Company expects to file the Form 10-Q for first quarter by no later than June 29, 2020, 45 days after the original due date.~~Statements

The ~~effect~~Company makes forward-looking statements in this report within the meaning of the ~~COVID~~Private Securities Litigation Reform Act of 1995. These forward-19looking ~~pandemic~~statements onrelate ~~our~~to ~~operations~~expectations ~~could~~or ~~have~~forecasts afor ~~material~~future ~~adverse~~events. ~~effect~~These onstatements ~~our~~may ~~business~~be preceded by, ~~financial~~followed ~~condition~~by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or similar expressions. These forward-looking statements are based on information available to the Company as of the date of this report and involve substantial risks and uncertainties. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to a variety of ~~operations~~factors, including the Company’s ability to submit a plan to regain compliance satisfactory to Nasdaq; the Company’s ability to evidence that it has a minimum of 500,000 publicly held shares; and other risks and uncertainties set forth in our reports filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update forward-looking statements as a result of new information, future events or ~~cash~~developments ~~flows~~or otherwise.

The World Health Organization has declared the outbreak of COVID-19, which began in December 2019, a pandemic and the U.S. federal government has declared it a national emergency. Our business and operations could be materially and adversely affected by the effects of COVID-19. The global spread of COVID-19 has already created significant volatility, uncertainty and economic disruption in the markets in which we operate. Governments, public institutions, and other organizations in countries and localities where cases of COVID-19 have been detected are taking certain emergency measures to mitigate its spread, including implementing travel restrictions and closing factories, schools, public buildings, and businesses. While the full impact of this outbreak is not yet known, we are closely monitoring the spread of COVID-19 and continually assessing its potential effects on our business.

As the result of current restrictions put in place to address COVID-19 and the related economic downturn, the Company has experienced business disruptions including, but not limited to, office closures and difficulties in maintaining operational continuance during remote operations required by illness, social quarantining, and work from home orders currently in force. The extent to which our results continue to be affected by COVID-19 will largely depend on future developments which cannot be accurately predicted, including the duration and scope of the pandemic, governmental and business responses to the pandemic and the impact on the global economy. While these factors are uncertain, the COVID-19 pandemic or the perception of its effects could continue to have a material adverse effect on our business, financial condition, results of operations, or cash flows.

Forward-Looking Statements

This Current Report on Form 8-K includes forward-looking statements and information within the meaning of the federal securities laws regarding the Company and its businesses. Such statements are based on the current expectations, estimates, projections, and assumptions made by management. The words “anticipate,” “expect,” “believe,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or similar words are used to identify such forward looking information. The forward-looking events and circumstances discussed in this report may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks regarding the effects and duration of the COVID-19 pandemic, the insurance industry, economic factors, and the equity markets generally and the other risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Many of these uncertainties and risks are difficult to

predict and beyond management’s control. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the Company and its subsidiaries undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SIGNATURES

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.

	POSITIVE PHYSICIANS HOLDINGS, INC.
Dated: May 15, 2020
Dated: May 21, 2020
	By:	/s/ Donovan C. Augustin
	Name:	Donovan C. Augustin
	Title:	Chief Financial Officer

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