SHIFT TECHNOLOGIES, INC.: Nasdaq/NYSE listing notice — Shift Tech receives Nasdaq delisting notice for MVLS below $35M minimum

SHIFT TECHNOLOGIES, INC.

Nasdaq notified Shift on Dec 22, 2022 that its MVLS was under $35M for 30 consecutive business days.
Company has 180 days, until June 20, 2023, to regain compliance with the MVLS requirement.
If compliance not achieved by deadline, Nasdaq may delist Shift's Class A common stock.
Shift may seek an extension of the compliance period or appeal to a Nasdaq Hearings Panel.
No assurance that Shift will be able to regain compliance with the MVLS requirement.

Key facts

Extracted from this filing and checked against the source text.

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

SHIFT TECHNOLOGIES, INC. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2), 5810(c)(3)(C)

Exact text from the filing

December 22, 2022, Shift Technologies, Inc. (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 Minimum Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2) (the “MVLS Requirement”). The Notice does not impact the listing of the Company’s Class A common stock, par value $0.0001 per share

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Source: SEC EDGAR

accession 0001213900-22-083555

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