Lightning eMotors, Inc.: Nasdaq/NYSE listing notice — Lightning eMotors receives NYSE non-compliance notice; market cap and equity below $50M

Lightning eMotors, Inc.

30-day avg global market cap <$50M and last-reported stockholders' equity also <$50M triggered NYSE Section 802.01B.
Company has 45 days to submit a business plan to NYSE showing ability to regain compliance within 18 months.
NYSE will review plan within 45 days; if accepted, stock continues trading during the 18-month cure period.
Notice has no immediate impact on listing; shares continue trading subject to other NYSE requirements.

item 3.01 item 7.01 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

Lightning eMotors, Inc. received a nyse noncompliance notice notice regarding market value (rules 802.01B).

Exchange: nyse
Notice: noncompliance notice
Deficiency: market value
Rules: 802.01B

Exact text from the filing

August 29, 2023, Lightning eMotors, Inc. (the “Company”) received written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company was not in compliance with the continued listing standard set forth in Section 802.01B of the NYSE’s Listed Company Manual because the average global market capitalization of the Company over a consecutive 30 trading-day period was less than $50 million and, at the same time, the Company’s last reported stockholders’ equity was less than $50 million. In accordance with applicable NYSE procedures, the Company has 45 days from receipt of t

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Source: SEC EDGAR

accession 0001802749-23-000120

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