Zoomcar Holdings, Inc. (ZCAR): Nasdaq/NYSE listing notice — Zoomcar fails to regain Nasdaq MVPHS compliance; faces delisting; CFO promoted, CEO salary restored

Zoomcar Holdings, Inc.

Failed to regain Nasdaq MVPHS compliance (min $15M public float) by Jan 21; delisting notice on Jan 23.
Company also noncompliant with other Nasdaq listing rules; compliance plan presented Jan 9; must present views on additional deficiency by Jan 30.
Sachin Gupta promoted from Interim CFO to CFO effective Jan 17, 2025.
CEO Hiroshi Nishijima's salary restored from $175K to $350K per annum, retroactive to Jan 1, 2025.

item 3.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Sachin Gupta

Chief Financial Officer

ZCAR · Zoomcar Holdings, Inc.

Effective: 2025-01-17
Filed: January 24, 2025, 6:59 PM ET

On January 17, 2025, the board of directors (the “Board”) of the Company approved a change in the designation of Sachin Gupta, from Interim Chief Financial Officer to Chief Financial Officer, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

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

Zoomcar Holdings, Inc. received a nasdaq delisting notice notice regarding market value (rules 5450(b)(2)(C), 5810(c)(3)(D)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5450(b)(2)(C), 5810(c)(3)(D)

Exact text from the filing

January 23, 2025, the Company received a further notice from the Staff, notifying the Company that its failure to regain compliance with the MVPHS Rule serves as an additional basis for delisting the Company’s securities

View on SEC.gov

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Zoomcar Holdings, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C), 5810(c)(3)(D)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C), 5810(c)(3)(D)

Exact text from the filing

The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that for the previous 30 consecutive business days, the market value of publicly held shares for the Company was below the minimum $15,000,000 required for continued listing on The Nasdaq Global Market as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Rule”). Under Nasdaq Listing Rule 5810(c)(3)(D), the Company was provided a period of 180 calendar days (or until January 21, 2025) to regain compliance with the MVPHS Rule. The Company did not regain compliance with the MVPHS Rule within the 180-day compliance period. In a

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Sachin Gupta was appointed as Chief Financial Officer at Zoomcar Holdings, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On January 17, 2025, the board of directors (the “Board”) of the Company approved a change in the designation of Sachin Gupta, from Interim Chief Financial Officer to Chief Financial Officer, effective immediately.

View on SEC.gov

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Zoomcar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-006510

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