Nikola Corp: Nasdaq/NYSE listing notice — Nikola receives Nasdaq notice for bid price non-compliance

Nikola Corp

Received Nasdaq notice on May 24, 2023 for failure to maintain $1.00 minimum closing bid price over 30 consecutive business days.
Company has 180 days, until November 20, 2023, to regain compliance by closing at $1.00+ for at least 10 consecutive business days.
Current listing on Nasdaq is not immediately affected; additional time may be available if not compliant by deadline.

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 0.9

Nikola Corp received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

May 24, 2023, Nikola Corporation (the “Company”) received written notice (the “Notification Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on Nasdaq. Nasdaq Listing Rule 5450(a)(1) requires listed securities maintain a minimum closing bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum closing bid price requirement exists if the deficiency continues for a period of 30 consecutive b

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Source: SEC EDGAR

accession 0001731289-23-000124

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