TMC the metals Co Inc. (TMC): Nasdaq/NYSE listing notice — TMC receives Nasdaq deficiency notice for bid price below $1.00 per share

TMC the metals Co Inc.

Nasdaq notified TMC on Dec 5, 2022; average closing price <$1.00 for 30 consecutive trading days through Dec 2.
TMC has 180 calendar days (until June 5, 2023) to regain compliance by closing >=$1.00 for 10 consecutive business days.
If not cured, TMC may qualify for an additional 180-day extension if it meets other standards and plans a reverse stock split.
No immediate effect on listing; common shares continue trading on Nasdaq under symbol TMC.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

TMC the metals Co Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

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

Exact text from the filing

December 5, 2022, TMC the metals company Inc. (the “Company”) received a written notice from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the average closing price of the Company’s common shares (the “Common Shares”) over the 30 consecutive trading days from October 21, 2022 through December 2, 2022 had fallen below $1.00 per share, which is the minimum closing bid price required to maintain listing on the Nasdaq Stock Market under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calen

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TMC the metals Co Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-124759

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