Zeo Energy Corp. (ZEO): Nasdaq/NYSE listing notice — ESGEN Acquisition receives Nasdaq delisting notice for MVLS below $50M

Zeo Energy Corp.

On May 10, 2023, Nasdaq notified ESGEN that its MVLS was below $50M for 30 consecutive business days.
Company also fails to meet Nasdaq's Total Assets/Total Revenue Standard for continued listing.
ESGEN has 180 days, until Nov 6, 2023, to regain compliance; shares continue trading.
If not compliant by deadline, Nasdaq will delist; company may appeal to a Hearings Panel.
ESGEN may evaluate options, including transferring to Nasdaq Capital Market, but no assurance.

Key facts

Extracted from this filing and checked against the source text.

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

Zeo Energy Corp. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(3)(A)

Exact text from the filing

May 10, 2023, ESGEN Acquisition Corporation (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $50 million required for continued listing on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “Market Value Standard”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rules 545

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Zeo Energy Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-142094

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