ENERGY FOCUS, INC/DE (EFOI): Nasdaq/NYSE listing notice — Energy Focus raises $305K from directors, faces Nasdaq delisting for low equity and bid price

March 28, 2023, the Company received written notification (the “Additional Staff Determination”) from the Staff stating that (i) following the Bid Price Notification, and in accordance with Listing Rule 5810(c)(2)(A), Nasdaq is no longer permitted to consider the Plan, (ii) the Additional Staff Determination serves as an additional basis for delisting the Company’s common stock from Nasdaq and (iii) the Panel will consider the Additional Staff Determination in rendering a determination regarding the continued listing of the Company’s common stock on Nasdaq. The Company intends to diligently pu

November 16, 2022, the Company received a written notification from the Listing Qualifications staff (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) that the Company is not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000 (the “Stockholders’ Equity Requirement”). The Company’s Form 10-Q for the Quarterly Period Ended September 30, 2022 filed on November 10, 2022 reflected that the Company’s stockholders’ equity a

On March 31, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with Streeterville Capital, LLC (the “Lender”), to whom the Company previously sold and issued that certain Promissory Note dated April 21, 2022 (as amended, the “Original Note”).