TMC the metals Co Inc. (TMC): Nasdaq/NYSE listing notice — TMC receives Nasdaq deficiency notice for bid price below $1; has 180 days to comply

TMC the metals Co Inc.

Nasdaq notified TMC on Apr 19, 2023 that common shares' closing bid price was below $1.00 for 30 consecutive trading days.
Company has 180-day grace period ending Oct 16, 2023 to regain compliance by closing at $1.00 for 10 consecutive business days.
This is the second such notice; a prior deficiency from Dec 2022 was resolved in Feb 2023 after share price recovered.
If not compliant by Oct 16, TMC may be eligible for an additional 180-day extension if it meets other listing standards.
Notice has no immediate effect on listing of TMC common shares (TMC) or warrants (TMCWW); trading continues normally.

Key facts

Extracted from this filing and checked against the source text.

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

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

April 19, 2023, TMC the metals company Inc. (the “Company”) received a written notice from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price of the Company’s common shares (the “Common Shares”) over the 30 consecutive trading days from March 7, 2023 through April 18, 2023 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 calendar days to

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20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

TMC the metals Co Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-047863

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