PHOENIX MOTOR INC. (PEVM): Nasdaq/NYSE listing notice — Phoenix Motor (PEV) receives Nasdaq delisting notice; bid price under $1.00

PHOENIX MOTOR INC.

Nasdaq deficiency letter received April 18, 2023 for bid price below $1.00 for 30 consecutive business days.
Company has 180 calendar days, until October 16, 2023, to regain compliance by closing at $1.00+ for 10 consecutive days.
If not compliant by deadline, may be eligible for a 180-day second compliance period with a reverse stock split.
Stock continues trading on Nasdaq Capital Market under PEV; no immediate delisting effect.

Key facts

Extracted from this filing and checked against the source text.

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

PHOENIX MOTOR INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

April 18, 2023, Phoenix Motor Inc., a Delaware corporation (the “Company”) received a notice in the form of a letter (“Deficiency Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid price for the Company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days (the “Minimum Bid Price Requirement”). The Nasdaq Deficiency Letter has no immediate effect on the listing of the Company’s common stock, an

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PHOENIX MOTOR INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-048470

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