EZGO Technologies Faces Nasdaq Minimum Bid Price Deficiency Notification
EZGO Technologies Ltd. (Nasdaq: EZGO), a key player in the short-distance transportation sector in China, recently announced that it received a notification from the Nasdaq Stock Market concerning a minimum bid price deficiency. This notification, dated December 30, 2024, arrived from the Listing Qualifications Department of Nasdaq, indicating that the company's ordinary shares had closed below the required minimum bid price of $1.00 per share for a continuous period of thirty business days, specifically from November 13, 2024, to December 27, 2024.
The receipt of this Notification Letter does not immediately affect the trading of EZGO's ordinary shares, which will continue to be available under the ticker symbol 'EZGO' without interruption. As stipulated by Nasdaq Listing Rule 5810(b), the company is required to disclose such deficiency notifications promptly.
According to Nasdaq Listing Rule 5810(c)(3)(A), EZGO Technologies has a grace period of 180 calendar days, concluding on June 30, 2025. During this period, if the company's ordinary shares manage to maintain a closing bid price of $1.00 or more for at least ten consecutive business days, Nasdaq will confirm compliance, thus resolving the matter. In case EZGO fails to meet this requirement within the specified timeframe, it may be eligible for an additional 180-day grace period, provided it adheres to certain conditions, such as maintaining the market value of publicly held shares and notifying Nasdaq of its intention to rectify the deficiency.
Should EZGO choose to pursue a reverse stock split to aid in meeting the minimum bid price requirement, it must accomplish this no later than ten business days before the expiration of the second compliance period, should it be granted. The leadership of EZGO Technologies has confirmed that the operational activities of the company remain unaffected by the recent notification and they are carefully monitoring the bid price of their shares.
In light of these developments, EZGO Technologies may consider viable options to restore compliance, including the possibility of a reverse stock split. The company is committed to making informed decisions in the interest of its shareholders and remains optimistic about its position in the market.
EZGO Technologies has built its reputation through an innovative business model, focusing on the design, manufacturing, and selling of electric vehicles, intelligent robots, and their accessories, including batteries and charging systems. The company leverages an Internet of Things (IoT) platform alongside its two e-bicycle brands, 'EZGO' and 'Cenbird,' to enhance its offerings.
As the landscape of the transportation industry evolves, EZGO aims to adapt and grow in China's burgeoning market, which presents extensive opportunities for short-distance transportation solutions. The management is confident that with concerted efforts and strategic planning, they can navigate through these temporary challenges and continue to thrive within the competitive sector.
For further updates and detailed information about their financials and operational strategies, stakeholders and interested parties are encouraged to visit EZGO's official website or check the 'Investor Relations' section for reports and filings.
The receipt of this Notification Letter does not immediately affect the trading of EZGO's ordinary shares, which will continue to be available under the ticker symbol 'EZGO' without interruption. As stipulated by Nasdaq Listing Rule 5810(b), the company is required to disclose such deficiency notifications promptly.
According to Nasdaq Listing Rule 5810(c)(3)(A), EZGO Technologies has a grace period of 180 calendar days, concluding on June 30, 2025. During this period, if the company's ordinary shares manage to maintain a closing bid price of $1.00 or more for at least ten consecutive business days, Nasdaq will confirm compliance, thus resolving the matter. In case EZGO fails to meet this requirement within the specified timeframe, it may be eligible for an additional 180-day grace period, provided it adheres to certain conditions, such as maintaining the market value of publicly held shares and notifying Nasdaq of its intention to rectify the deficiency.
Should EZGO choose to pursue a reverse stock split to aid in meeting the minimum bid price requirement, it must accomplish this no later than ten business days before the expiration of the second compliance period, should it be granted. The leadership of EZGO Technologies has confirmed that the operational activities of the company remain unaffected by the recent notification and they are carefully monitoring the bid price of their shares.
In light of these developments, EZGO Technologies may consider viable options to restore compliance, including the possibility of a reverse stock split. The company is committed to making informed decisions in the interest of its shareholders and remains optimistic about its position in the market.
EZGO Technologies has built its reputation through an innovative business model, focusing on the design, manufacturing, and selling of electric vehicles, intelligent robots, and their accessories, including batteries and charging systems. The company leverages an Internet of Things (IoT) platform alongside its two e-bicycle brands, 'EZGO' and 'Cenbird,' to enhance its offerings.
As the landscape of the transportation industry evolves, EZGO aims to adapt and grow in China's burgeoning market, which presents extensive opportunities for short-distance transportation solutions. The management is confident that with concerted efforts and strategic planning, they can navigate through these temporary challenges and continue to thrive within the competitive sector.
For further updates and detailed information about their financials and operational strategies, stakeholders and interested parties are encouraged to visit EZGO's official website or check the 'Investor Relations' section for reports and filings.
Topics Business Technology）
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