Arcimoto Inc: Nasdaq/NYSE listing notice — Arcimoto receives Nasdaq bid-price deficiency notice, completes reverse stock split

Arcimoto Inc

Received Nasdaq notice on Nov 23, 2022: bid price below $1.00 for 30 consecutive days, non-compliant with Listing Rule 5550(a)(2).
Company has 180 calendar days to regain compliance; must close at $1.00+ for ten consecutive business days.
Completed 20-for-1 reverse stock split on Nov 29, 2022, expected to cure the bid-price deficiency.

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 0.95

Arcimoto Inc 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

Staff (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") indicating that the bid price of the Company's common stock, no par value (the "Common Stock"), had closed below $1.00 per share for 30 consecutive business days and, as a result, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), which sets forth the minimum bid price requirement for continued listing (the "Minimum Bid Requirement"). Nasdaq's notice had no immediate effect on the listing of the Company's Common Stock on Nasdaq. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days to re

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Source: SEC EDGAR

accession 0001213900-22-076365

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