CBAK Energy Technology, Inc. (CBAT): Nasdaq/NYSE listing notice — CBAK Energy receives Nasdaq minimum bid price deficiency notice; 180-day cure period until Oct 23, 2023

CBAK Energy Technology, Inc.

Notice received April 24, 2023 for non-compliance with $1.00 minimum bid price (closing bid <$1.00 for 30 consecutive business days from Mar 10 to Apr 21, 2023).
Compliance period of 180 days until October 23, 2023; stock continues trading on Nasdaq under CBAT.
To regain compliance, closing bid must be at least $1.00 for 10 consecutive business days during cure period.
If not compliant by Oct 23, may apply for additional 180-day grace period; otherwise delisting proceedings begin.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.97

CBAK Energy Technology, 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 24, 2023, CBAK Energy Technology, Inc. (the “Company”) received notice (the “Notice”) from the Listing Qualifications staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of US$1.00 per share. Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the

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CBAK Energy Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-033973

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