Fisker Inc./DE: Nasdaq/NYSE listing notice — NYSE to delist Fisker over abnormally low stock price; triggers debt acceleration risk

Fisker Inc./DE

On March 25, 2024, NYSE notified Fisker of immediate trading suspension and delisting due to abnormally low price.
Class A common stock expected to be quoted on OTC Pink, a less liquid market that could further depress trading price.
Delisting triggers repurchase obligation under 2.50% convertible notes due 2026 and event of default under 2025 notes.
Company states it lacks sufficient cash or financing to satisfy amounts due under the notes.

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

Fisker Inc./DE received a nyse delisting notice notice regarding minimum bid price (rules 802.01D).

Exchange: nyse
Notice: delisting notice
Deficiency: minimum bid price
Rules: 802.01D

Exact text from the filing

March 25, 2024, the New York Stock Exchange (the “NYSE”) notified Fisker Inc. (the “Company” or “Fisker”) that the NYSE had determined to (A) immediately suspend trading in the Company’s Class A common stock, par value $0.00001 per share (the “Class A Common Stock”), due to “abnormally low” trading price levels pursuant to Section 802.01D of the NYSE Listed Company Manual, and (B) commence proceedings to delist the Class A Common Stock. A delisting of our Class A Common Stock will trigger a requirement to offer to repurchase our unsecured 2.50% convertible notes due 2026 (the “2026 Notes”) and

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Source: SEC EDGAR

accession 0001720990-24-000032

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