RE:RE:RE:RE:RE:Delisting notice pending?Napcoo wrote: So if vmv were downgraded to OTC, it will be the same as exrof?
VMC (Vicinity Motor Corp.) is listed in the U.S. as VEV.
On April 24 they put out the following release. Note, they say the letter has no immediate effect and they will monitor the closing price as things progress. This past week is certainly not helping their cause and they need a significant change to the upside to get compliance before mid October.
VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC)(FRA:6LGA) ("Vicinity" or the "Company"), a North American supplier of commercial electric vehicles, today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), dated April 23, 2024, notifying the Company that Nasdaq has determined that the Company is eligible for an additional 180 calendar day period to regain compliance with Nasdaq's minimum US$1.00 bid price per share requirement for continued listing on The Nasdaq Capital Market as set forth under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"), following the expiration on April 22, 2024 of the initial 180 calendar day period to regain compliance.
As previously disclosed, the Company was initially notified by Nasdaq on October 24, 2023 that the Company was not in compliance with the Bid Price Requirement for a period of 30 consecutive business days, and Nasdaq granted the Company a period of 180 calendar days, or until April 22, 2024, to regain compliance with the Bid Price Requirement.
As a result of the extension, the Company now has until October 21, 2024, to regain compliance with the Bid Price Requirement. To regain compliance, the Company's common shares must have a closing bid price of at least US$1.00 per share for a minimum of 10 consecutive business days, at which point the matter will be closed.
The receipt of the letter from Nasdaq has no immediate effect on the listing or trading of the Company's shares, which will continue to trade on The Nasdaq Capital Market under the symbol "VEV." The Company will monitor the closing price for its common shares during the extended compliance period and intends to take all reasonable measures available to regain compliance under the Bid Price Requirement and to maintain the listing of its common shares on The Nasdaq Capital Market.