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

SHIFT TECHNOLOGIES, INC.

Nasdaq notice on April 19, 2023: MVLS below $35M minimum for 30 consecutive days.
Also not meeting Nasdaq equity ($5550(b)(1)) or net income ($5550(b)(3)) standards.
180-day compliance period expires October 16, 2023; stock continues trading in interim.
Company to monitor MVLS and may evaluate options; no assurance of regaining compliance.

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), 5550(b)(1), 5550(b)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2), 5550(b)(1), 5550(b)(3)

Exact text from the filing

April 19, 2023, 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 Market 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 “Market Value Standard”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rules 5550(b)(

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Source: SEC EDGAR

accession 0001213900-23-032061

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