Forza X1, Inc.: Nasdaq/NYSE listing notice — Forza X1 gets 180-day Nasdaq extension to regain $1.00 bid price compliance

Forza X1, Inc.

Nasdaq extended compliance deadline for minimum bid price rule to September 30, 2024.
Company must trade at or above $1.00 for ten consecutive business days to regain compliance.
Company considering a reverse stock split as one option to meet the requirement.
Failure by Sept 30 could result in delisting; Company may appeal any delisting determination.
Trading on Nasdaq under symbol FRZA continues with no immediate impact.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Forza X1, Inc. received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

April 2, 2024, the Company received written notification from Nasdaq granting the Company’s request for a 180-day extension to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company’s common stock is at or above $1.00 for a minimum of ten consecutive business days at any time prior to September 30, 2024, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the Mi

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Source: SEC EDGAR

accession 0001731122-24-000584

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