Arcimoto Inc: Nasdaq/NYSE listing notice — Arcimoto receives Nasdaq notice for stockholders' equity below $10M minimum

Arcimoto Inc

On Feb 21, 2024, Nasdaq notified Arcimoto that stockholders' equity fell below $10M, violating Listing Rule 5450(b)(1)(A).
Company has 45 calendar days to submit a plan to regain compliance; Nasdaq may grant up to 180-day extension.
Alternatively, Arcimoto may transfer to Nasdaq Capital Market by submitting Transfer Application and $5,000 fee.
No immediate effect on listing; company intends to submit a plan to regain compliance.

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 0.9

Arcimoto Inc received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5450(b)(1)(A)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 5450(b)(1)(A)

Exact text from the filing

February 21, 2024, Arcimoto, Inc. (the “Company”) received a letter from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the stockholders’ equity had fallen below $10,000,000 and, as a result, the Company is not in compliance with Nasdaq Listing Rule 5450(b)(1)(A). Nasdaq’s notice has no immediate effect on the listing of the Company’s Common Stock on Nasdaq. The Company has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from February 21, 2024 to e

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Source: SEC EDGAR

accession 0001213900-24-016275

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