NU RIDE INC. (NRDE): Nasdaq/NYSE listing notice — Lordstown Motors receives Nasdaq bid price deficiency notice; faces delisting risk

NU RIDE INC.

Nasdaq notice on April 19, 2023: closing bid below $1.00 for 30 consecutive business days.
Compliance period until October 16, 2023 to regain minimum $1.00 bid price for 10 days.
Company filed reverse stock split proposal (1:3 to 1:15) for shareholder vote on May 22, 2023.
Failure to regain compliance or obtain extension could lead to Nasdaq delisting.
Delisting would materially impair capital-raising ability and financial condition.

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 0.9

NU RIDE 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

April 19, 2023, Lordstown Motors Corp. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, because the closing bid price for the Company’s Class A common stock has fallen below $1.00 per share for 30 consecutive business days (March 7, 2023 through April 18, 2023), the Company was no longer in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Select Market (the “Bid Price Requirement”). The Notice

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NU RIDE INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-047437

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