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A2Z Fully Compliant with Nasdaq Listing Requirements; Warrant Extension

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A2Z Smart Solutions has regained compliance with Nasdaq's minimum bid price requirement after maintaining a closing bid price of $1.00 or more for at least 10 consecutive business days, as confirmed on October 21, 2024. This resolves the previous non-compliance notice received on April 24, 2024. Additionally, the company's board has approved a 12-month extension for 653,746 share purchase warrants to November 6, 2025. These warrants, originally issued through private placements on November 8, 2022, maintain their exercise price of $3.75 per common share.

A2Z Smart Solutions ha ripristinato la conformità con il requisito del prezzo minimo di offerta di Nasdaq dopo aver mantenuto un prezzo di chiusura di $1.00 o superiore per almeno 10 giorni lavorativi consecutivi, come confermato il 21 ottobre 2024. Ciò risolve il precedente avviso di non conformità ricevuto il 24 aprile 2024. Inoltre, il consiglio d'amministrazione della società ha approvato un prolungamento di 12 mesi per 653.746 warrants di acquisto azionario fino al 6 novembre 2025. Questi warrants, originariamente emessi tramite offerte private l'8 novembre 2022, mantengono il loro prezzo di esercizio di $3.75 per azione ordinaria.

A2Z Smart Solutions ha recuperado la conformidad con el requisito de precio mínimo de oferta de Nasdaq después de mantener un precio de cierre de $1.00 o más durante al menos 10 días hábiles consecutivos, como se confirmó el 21 de octubre de 2024. Esto resuelve el aviso de no conformidad recibido el 24 de abril de 2024. Además, la junta de la empresa ha aprobado una prórroga de 12 meses para 653,746 warrants de compra de acciones hasta el 6 de noviembre de 2025. Estos warrants, emitidos originalmente a través de colocaciones privadas el 8 de noviembre de 2022, mantienen su precio de ejercicio de $3.75 por acción ordinaria.

A2Z Smart Solutions는 2024년 10월 21일 기준으로 최소 보증 가격 요구 사항을 만족시키기 위해 최소 10일 연속으로 종가 가격을 $1.00 이상 유지한 후, Nasdaq의 기준을 다시 통과했습니다. 이는 2024년 4월 24일에 받은 이전 비준수 통지를 해결합니다. 추가로, 회사 이사회는 653,746주 매입 워런트에 대해 12개월 연장을 승인하였으며 이는 2025년 11월 6일까지 유효합니다. 이러한 워런트는 2022년 11월 8일 사모를 통해 최초 발행되었으며, 보통주당 행사 가격은 $3.75를 유지합니다.

A2Z Smart Solutions a récupéré sa conformité avec l'exigence de prix minimum d'offre du Nasdaq après avoir maintenu un prix de clôture de 1,00 $ ou plus pendant au moins 10 jours ouvrables consécutifs, comme confirmé le 21 octobre 2024. Cela résout l'avis de non-conformité précédent reçu le 24 avril 2024. De plus, le conseil d'administration de l'entreprise a approuvé une extension de 12 mois pour 653 746 bons de souscription d'actions jusqu'au 6 novembre 2025. Ces bons, émis à l'origine par le biais de placements privés le 8 novembre 2022, conservent leur prix d'exercice de 3,75 $ par action ordinaire.

A2Z Smart Solutions hat die Compliance mit den Mindestgebotsanforderungen von Nasdaq wiederhergestellt, nachdem das Unternehmen mindestens 10 aufeinanderfolgende Geschäftstage einen Schlusskurs von $1,00 oder mehr gehalten hat, was am 21. Oktober 2024 bestätigt wurde. Dies löst die vorherige Nicht-Compliance-Mitteilung vom 24. April 2024. Darüber hinaus hat der Vorstand des Unternehmens eine 12-monatige Verlängerung für 653.746 Aktienkaufwarrants bis zum 6. November 2025 genehmigt. Diese Warrants, die ursprünglich am 8. November 2022 durch private Platzierungen ausgegeben wurden, behalten ihren Ausübungspreis von $3,75 pro Stammaktie.

Positive
  • Regained Nasdaq listing compliance, eliminating delisting risk
  • Successfully maintained $1.00+ share price for 10+ consecutive days
Negative
  • Previous trading below $1.00 minimum bid requirement indicates stock price weakness
  • Warrant extension could potentially lead to future dilution if exercised

Insights

This compliance update with Nasdaq's listing requirements marks a critical milestone for A2Z, removing a significant risk of potential delisting. The company's successful maintenance of the $1.00 minimum bid price demonstrates improved market confidence. However, the warrant extension to 2025 for 653,746 shares at $3.75 per share indicates potential future dilution concerns, though it also provides the company additional time to reach a more favorable exercise price.

The warrant extension, while maintaining the original exercise price significantly above current trading levels, suggests management's confidence in future price appreciation. This development maintains access to potential capital of up to $2.45 million if all warrants are exercised, though the high strike price makes near-term exercise unlikely.

TEL AVIV, ISRAEL / ACCESSWIRE / October 23, 2024 / A2Z Cust2Mate Solutions Corp. ("A2Z" or the "Company") (NASDAQ:AZ)(FRA - WKN: A3CSQ), a global leader in innovative technology solutions, today announced that it has received formal notice from the Nasdaq Stock Market, LLC ("Nasdaq") stating that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). As previously disclosed, the Company received a written notice from Nasdaq on April 24, 2024, notifying the Company that it had failed to meet the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Capital Market.

To regain compliance with the Listing Rule, the Company's common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days, which was achieved on October 21, 2024. Nasdaq has stated that this matter is now closed.

A2Z further announced that, the board of directors has approved the extension of the expiry dates of a total of 653,746 share purchase warrants (the "Warrants"), by twelve months to Nov 6, 2025 (the "Warrant Extension"). The Warrants were issued pursuant to private placements which closed on November 8, 2022. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of US$3.75 per common share, and all other terms of the Warrants, including exercise price, will remain the same.

About A2Z Cust2mate Solutions Corp.

A2Z Cust2Mate Solutions Corp. creates innovative solutions for complex challenges. A2Z's flagship product is the world's first proven-in-use mobile self-checkout shopping cart. With its user-friendly smart algorithm, touch screen, and other technologies, Cust2Mate streamlines the retail shopping experience by scanning purchased products and enabling in-cart payment so that customers can simply "pick & go", and bypass long cashier checkout lines. This results in a more efficient shopping experience for customers, less unused shelf-space and manpower requirements, and advanced command and control capabilities for store managers.

For more information on A2Z Cust2mate Solutions Corp. (NASDAQ:AZ)($AZ)(FRA - WKN:A3CSQ) and its subsidiary, Cust2mate Ltd., please visit www.cust2mate.com.

Forward-looking Statements

Matters discussed in this press release may contain forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including whether the referenced patent will be granted. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company's filings on EDGAR and with the SEC. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements contained in this announcement are made as of this date, and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein.

Company Contact Information:

Gadi Graus, CEO
Gadi.g@a2zas.com
+972-73-370054

Investor Contacts:

John Gildea, VP corporate communication
john@a2zas.com
+353-8-68238177

SOURCE: A2Z Cust2Mate Solutions Corp.



View the original press release on accesswire.com

FAQ

When did A2Z (AZ) regain Nasdaq compliance?

A2Z regained Nasdaq compliance on October 21, 2024, after maintaining a minimum closing bid price of $1.00 or more for at least 10 consecutive business days.

What is the new expiration date for A2Z's (AZ) share purchase warrants?

A2Z's share purchase warrants have been extended by 12 months to November 6, 2025.

What is the exercise price of A2Z's (AZ) extended warrants?

The exercise price of the warrants remains at US$3.75 per common share.

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