Ideanomics Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K

Rhea-AI Summary

Ideanomics received a notice from Nasdaq regarding the late filing of its Annual Report on Form 10-K, leading to non-compliance with Nasdaq Listing Rules. The company is working to regain compliance.

New York, April 24, 2024 (GLOBE NEWSWIRE) -- NEW YORK, NY, April 24, 2024 / Ideanomics (NASDAQ:IDEX) ("Ideanomics" or the "Company") today announced that on April 19, 2024, the Company received a notice (the "10-K Notice") from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company had not yet filed its Form 10-K for the period ended December 30, 2023 (the "Form 10-K"), the Company is not in compliance with Nasdaq Listing Rules for continued listing. 
 
The Company is working diligently to regain compliance and will provide an update once more information is available. 

About Ideanomics

Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit: https://ideanomics.com.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law.

Contacts:

Ideanomics, Inc.

Tony Sklar, SVP of Investor Relations

1441 Broadway, Suite 5116, New York, NY 10018

ir@ideanomics.com 

FAQ

What notice did Ideanomics receive from Nasdaq?

Ideanomics received a notice from Nasdaq regarding the late filing of its Annual Report on Form 10-K.

Why is Ideanomics not in compliance with Nasdaq Listing Rules?

Ideanomics is not in compliance with Nasdaq Listing Rules due to the late filing of its Form 10-K for the period ended December 30, 2023.

What is Ideanomics doing to regain compliance with Nasdaq?

Ideanomics is working diligently to regain compliance with Nasdaq Listing Rules and will provide an update once more information is available.