Arcimoto Inc: Nasdaq/NYSE listing notice — Arcimoto receives Nasdaq bid price deficiency notice; 180 days to regain compliance

Arcimoto Inc

Bid price closed below $1.00 per share for 30 consecutive business days as of October 20, 2023.
Company has 180 calendar days to regain compliance by closing at $1.00+ for ten consecutive business days.
Failure may lead to transfer to Nasdaq Capital Market or delisting; reverse stock split being considered.
No immediate effect on listing; Company intends to monitor and pursue available remedies.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

Arcimoto Inc received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A), 5810(c)(3)(H), 5810(c)(3)(A)(ii)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A), 5810(c)(3)(H), 5810(c)(3)(A)(ii)

Exact text from the filing

October 20, 2023, Arcimoto, Inc. (the “Company”) received a letter from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price of the Company’s common stock, no par value (the “Common Stock”), had closed below $1.00 per share for 30 consecutive business days and, as a result, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1), which sets forth the minimum bid price requirement for continued listing on the Global Market (the “Minimum Bid Requirement“). Nasdaq’s notice has no immediate effect on the listing of the

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Source: SEC EDGAR

accession 0001013762-23-005852

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