GreenPower Motor Company Faces Delisting as Nasdaq Issues Determination Letter

GreenPower Motor Company Navigates Challenges with Nasdaq Compliance

On August 29, 2025, GreenPower Motor Company Inc. (Nasdaq: GP) made an announcement regarding its ongoing compliance issues with Nasdaq listing standards. The company received a determination letter from Nasdaq Listing Qualifications, dated August 27, stating that it had not managed to regain compliance with crucial Listing Rules.

The letter specified that if GreenPower does not appeal by September 3, 2025, their common shares would be delisted and suspended from trading starting September 5, 2025. To avoid this consequence, the company plans to request a hearing with the Nasdaq Hearings Panel, which could potentially delay the suspension until a decision is reached.

The situation arose after GreenPower's common shares had consistently traded below the minimum bid price of US$1, a violation of Nasdaq Rule 5550(a)(2), leading to the issuance of the determination letter. The company was granted 180 days to rectify this situation, which expired on August 26. However, they were informed they did not qualify for an additional 180-day extension due to failure to meet the minimum stockholders' equity requirement of US$5,000,000.

Moreover, another compliance issue was raised concerning the company's equity status under Rule 5550(b); the management has been asked to submit a remediation plan by September 29, 2025. Nonetheless, with this rule serving as another pathway to potential delisting, the company must address both compliance issues when it presents its case to the Panel during the appeal process.

Future Trading Prospects

If the delisting occurs, GreenPower common shares are anticipated to shift trading to alternative markets, such as the OTC Markets Group in the United States and the TSX Venture Exchange in Canada. This would allow shareholders to continue trading their shares, albeit in a different market environment.

Company Overview

Founded in Vancouver, Canada, GreenPower is at the forefront of designing and manufacturing all-electric vehicles, focusing on medium and heavy-duty applications. Their lineup includes transit buses, school buses, shuttles, and cargo vans, all built with the intention of minimizing environmental impact through zero-emission technologies. Utilizing a clean-sheet design approach, GreenPower ensures that their vehicles are purpose-built for battery power, employing global suppliers for essential components and adhering to rigorous standards.

Commitment to Compliance

GreenPower’s leadership team, including Fraser Atkinson (CEO), Brendan Riley (President), and Michael Sieffert (CFO), is committed to resolving these compliance issues promptly. The company is actively working to meet Nasdaq’s requirements and has announced its intention to appeal the determination letter to safeguard its listing status. In light of these ongoing challenges, stakeholders are encouraged to monitor the situation closely.

For more details and updates, visit their official website at GreenPower Motor Company.

Forward-Looking Statements: This article contains forward-looking statements that are subject to various risks and uncertainties. Actual results may differ significantly from projected outcomes. Stakeholders are advised to consider this information when making investment decisions.