Aemetis Regains Compliance with NASDAQ Listing Requirements

Rhea-AI Summary

Aemetis announced on August 18, 2020, that it has regained compliance with NASDAQ Listing Rules. The company received confirmation from NASDAQ that it has maintained a minimum market value of publicly held shares of $15 million and a closing bid price of at least $1.00 per share for 10 consecutive trading days. This compliance determination resolves prior concerns regarding its listing status. Aemetis specializes in advanced renewable fuels and biochemicals, operating facilities in California and India, and is engaged in innovative projects aimed at producing sustainable energy alternatives.

Positive

• Regained compliance with NASDAQ Listing Rules 5450(a)(1) and 5450(b)(2)(C).
• Maintained a market value of publicly held shares exceeding $15 million.
• Closing bid price of at least $1.00 per share for 10 consecutive trading days.

Negative

• None.

CUPERTINO, CA, Aug. 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Aemetis, Inc. (NASDAQ: AMTX) announced it received a letter from The NASDAQ Stock Market (“NASDAQ”) on August 11, 2020, which contained a NASDAQ compliance determination that the Company has regained compliance with NASDAQ Listing Rule 5450(b)(2)(C), which requires that listed securities maintain a minimum market value of publicly held shares of the Company’s common stock equal to or in excess of the $15,000,000 minimum.  On August 12, 2020, Aemetis received a letter from NASDAQ confirming compliance with NASDAQ Listing Rule 5450(a)(1), which requires that listed securities maintain a closing bid price equal to or in excess of $1.00 per share.

The NASDAQ letters noted that the Company’s common stock has maintained a closing bid price of at least $1.00 per share for 10 consecutive trading days as well as a minimum market value of publicly held shares of the Company’s common stock equal to or in excess of the $15,000,000 minimum for 10 consecutive trading days, enabling the Company to regain compliance with both NASDAQ Listing Rule 5450(a)(1) and 5450(b)(2)(C).  Consequently, NASDAQ confirmed that both matters are now closed.

About Aemetis

Headquartered in Cupertino, California, Aemetis is an advanced renewable fuels and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace traditional petroleum-based products by the conversion of ethanol and biodiesel plants into advanced biorefineries. Founded in 2006, Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto. Aemetis also owns and operates a 50 million gallon per year renewable chemical and advanced fuel production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is building a biogas anaerobic digester network and pipeline to convert dairy animal waste gas to Renewable Natural Gas (RNG), and is developing a plant to convert waste orchard wood into cellulosic ethanol.  Aemetis holds a portfolio of patents and related technology licenses for the production of renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com.

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the compliance with certain exchange listing requirements, construction and operation of the high grade alcohol production facility in Keyes, California, the receipt of US pharmacopeia certification, the and the ability to access markets and funding to execute our hand sanitizer business plan. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “will likely result,” “will continue”, “enable” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2019, and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

External Investor Relations
Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com

Company Investor Relations/
Media Contact:
Todd Waltz
 (408) 213-0940
investors@aemetis.com

FAQ

What is the recent NASDAQ compliance status of Aemetis (AMTX)?

Aemetis (AMTX) has regained compliance with NASDAQ Listing Rules on August 11, 2020, confirming a market value of over $15 million and a closing bid price above $1.00.

When did Aemetis (AMTX) confirm its compliance with NASDAQ requirements?

Aemetis confirmed its compliance with NASDAQ required standards on August 12, 2020.

How did Aemetis (AMTX) meet NASDAQ Listing Rule requirements?

Aemetis met NASDAQ Listing Rule requirements by maintaining a closing bid price of at least $1.00 and a market value of publicly held shares exceeding $15 million for 10 consecutive trading days.

What is the significance of the NASDAQ compliance for Aemetis (AMTX)?

Regaining NASDAQ compliance allows Aemetis to maintain its listing status, which is crucial for investor confidence and market access.