ELECTRAMECCANICA VEHICLES CORP.: Nasdaq/NYSE listing notice — ElectraMeccanica receives Nasdaq deficiency letter for bid price below $1.00

ELECTRAMECCANICA VEHICLES CORP.

Deficiency letter received March 27, 2023 for non-compliance with Nasdaq Minimum Bid Price Rule 5550(a)(2).
Common shares close below $1.00 for 30 consecutive business days; no immediate effect on listing.
180-day cure period until September 25, 2023 to regain compliance by closing at $1.00+ for 10 days.
If not cured by Sep 25, may qualify for second 180-day period if other listing standards met.
Company may consider reverse stock split; compliance not guaranteed.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ELECTRAMECCANICA VEHICLES CORP. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

March 27, 2023, ElectraMeccanica Vehicles Corp. (the “Company”) received a deficiency letter (the “Deficiency Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last thirty (30) consecutive business days, the closing bid price for the Company’s common shares have been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Deficiency Letter has no immediate effect on the li

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Source: SEC EDGAR

accession 0001104659-23-037731

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