FTC Solar, Inc. (FTCI): Nasdaq/NYSE listing notice — FTC Solar receives Nasdaq non-compliance notice for bid price below $1.00

FTC Solar, Inc.

Nasdaq notified FTC Solar on Dec 22, 2023 that stock bid price was below $1.00 for 30 consecutive business days.
Company has 180 days, until June 19, 2024, to regain compliance by closing at $1.00 for 10 consecutive days.
If not compliant by June 19, 2024, company may be eligible for additional 180-day period by transferring to Nasdaq Capital Market.
Company is considering options including a reverse stock split to cure the deficiency.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

FTC Solar, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

December 22, 2023, FTC Solar, Inc. (the “Company”) received notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5450(a)(1), because the closing bid price of the Company’s common stock (the “Common Stock”) was below $1.00 per share for 30 consecutive business days. The notification does not impact the listing of the Company’s Common Stock on the Nasdaq Global Market at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the

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FTC Solar, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-073836

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