Carbon Revolution plc announced it received a notification letter from Nasdaq's Listing Qualifications Department, stating non-compliance with Listing Rule 5450(b)(1)(A). This rule requires companies listed on the Nasdaq Global Select Market to maintain a minimum of US$10 million in stockholders' equity for continued listing. The non-compliance was based on the company's annual report on Form 20-F for the fiscal year ended June 30, 2024, filed on May 14, 2025.
The letter has no immediate effect on the listing or trading of the company’s ordinary shares or warrants on Nasdaq. Carbon Revolution has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, Nasdaq could grant an exception of up to 180 calendar days from May 30, 2025, or until November 26, 2025, to meet the requirement.
This notice represents a significant regulatory challenge for Carbon Revolution, as failure to address the stockholder's equity deficiency could ultimately lead to delisting from Nasdaq. The company must develop and execute a credible plan to improve its financial position and meet the listing standard.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.