Zoomcar receives Nasdaq deficiency notice for insufficient publicly held shares; faces multiple listing non-compliance

Zoomcar Holdings, Inc.

On Oct 29, 2024, Nasdaq notified Zoomcar that its publicly held shares fell below the 1,100,000 minimum for continued listing on Nasdaq Global Market.
Company has 45 days to submit a compliance plan; if accepted, Nasdaq may grant up to 180-day extension.
Previously reported non-compliance with minimum bid price and minimum market value of publicly held shares ($15M); delisting notice possible by Nov 4, 2024.
Company may apply to transfer to Nasdaq Capital Market with lower MPLS requirement, subject to meeting its listing standards and $5,000 fee.

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