Phoenix Motor Regains Compliance with Nasdaq Listing
Phoenix Motor (NASDAQ:PEV) has announced its return to compliance with Nasdaq listing requirements following the resolution of a temporary non-compliance period. The company, which specializes in heavy-duty transit buses and electrification solutions, had received a notification from Nasdaq on November 20, 2024, regarding non-compliance with Rule 5250(c)(1) due to delayed financial report filings.
The compliance issue was resolved on February 12, 2025, when Phoenix Motor filed its Form 10-Q for the period ended September 30, 2024. Nasdaq has confirmed that the company now meets all requirements under the Rule, and the matter has been closed.
Phoenix Motor (NASDAQ:PEV) ha annunciato il suo ritorno alla conformità con i requisiti di quotazione di Nasdaq dopo la risoluzione di un periodo temporaneo di non conformità. L'azienda, specializzata in autobus a lungo raggio e soluzioni di elettrificazione, aveva ricevuto una notifica da Nasdaq il 20 novembre 2024, riguardante la non conformità con la Regola 5250(c)(1) a causa di ritardi nella presentazione dei rapporti finanziari.
La questione di conformità è stata risolta il 12 febbraio 2025, quando Phoenix Motor ha presentato il suo modulo 10-Q per il periodo terminato il 30 settembre 2024. Nasdaq ha confermato che l'azienda soddisfa ora tutti i requisiti previsti dalla Regola e la questione è stata chiusa.
Phoenix Motor (NASDAQ:PEV) ha anunciado su regreso a la conformidad con los requisitos de cotización de Nasdaq tras la resolución de un período temporal de no conformidad. La compañía, que se especializa en autobuses de tránsito de servicio pesado y soluciones de electrificación, había recibido una notificación de Nasdaq el 20 de noviembre de 2024, sobre la no conformidad con la Regla 5250(c)(1) debido a la presentación tardía de informes financieros.
El problema de conformidad se resolvió el 12 de febrero de 2025, cuando Phoenix Motor presentó su Formulario 10-Q para el período que terminó el 30 de septiembre de 2024. Nasdaq ha confirmado que la empresa ahora cumple con todos los requisitos bajo la Regla, y el asunto ha sido cerrado.
피닉스 모터 (NASDAQ:PEV)는 일시적인 비준수 기간 해결 후 나스닥 상장 요구 사항 준수로의 복귀를 발표했습니다. 중량급 대중교통 버스 및 전기화 솔루션을 전문으로 하는 이 회사는 2024년 11월 20일 나스닥으로부터 재무 보고서 제출 지연으로 인해 규칙 5250(c)(1)에 대한 비준수 통지를 받았습니다.
준수 문제는 2025년 2월 12일에 해결되었으며, 피닉스 모터는 2024년 9월 30일로 종료된 기간에 대한 10-Q 양식을 제출했습니다. 나스닥은 이제 회사가 규칙에 따른 모든 요구 사항을 충족한다고 확인했으며, 이 문제는 종료되었습니다.
Phoenix Motor (NASDAQ:PEV) a annoncé son retour à la conformité avec les exigences de cotation de Nasdaq après la résolution d'une période temporaire de non-conformité. L'entreprise, spécialisée dans les bus de transport en commun lourds et les solutions d'électrification, avait reçu une notification de Nasdaq le 20 novembre 2024 concernant la non-conformité avec la règle 5250(c)(1) en raison de retards dans le dépôt des rapports financiers.
Le problème de conformité a été résolu le 12 février 2025, lorsque Phoenix Motor a déposé son formulaire 10-Q pour la période se terminant le 30 septembre 2024. Nasdaq a confirmé que l'entreprise répond désormais à toutes les exigences de la règle et que l'affaire est close.
Phoenix Motor (NASDAQ:PEV) hat seine Rückkehr zur Einhaltung der Nasdaq-Listing-Anforderungen bekannt gegeben, nachdem ein vorübergehender Zeitraum der Nichteinhaltung gelöst wurde. Das Unternehmen, das sich auf schwere Nahverkehrsbusse und Elektrifizierungslösungen spezialisiert hat, hatte am 20. November 2024 eine Benachrichtigung von Nasdaq über die Nichteinhaltung der Regel 5250(c)(1) aufgrund verspäteter Finanzberichterstattung erhalten.
Das Problem der Einhaltung wurde am 12. Februar 2025 gelöst, als Phoenix Motor sein Formular 10-Q für den Zeitraum bis zum 30. September 2024 eingereicht hat. Nasdaq hat bestätigt, dass das Unternehmen nun alle Anforderungen der Regel erfüllt und die Angelegenheit abgeschlossen ist.
- Regained Nasdaq listing compliance, eliminating delisting risk
- Successfully filed delayed Q3 2024 financial reports
- Previously failed to meet SEC filing deadlines, indicating potential internal control issues
ANAHEIM, CA / ACCESS Newswire / February 14, 2025 / Phoenix Motor Inc. ( NASDAQ:PEV ), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that it has received confirmation from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires timely filing of periodic financial reports with the Securities and Exchange Commission ("SEC").
On November 20, 2024, Nasdaq Staff notified the Company that it was not in compliance with the Rule due to a delay in filing its periodic financial reports. However, following the Company's filing of its Form 10-Q for the period ended September 30, 2024, on February 12, 2025, Nasdaq has confirmed that the Company has now met the requirements under the Rule. Accordingly, this matter is now closed.
The Company remains committed to maintaining compliance with all applicable Nasdaq listing requirements and SEC reporting obligations. The Company appreciates the support of its shareholders and stakeholders throughout this process.
About Phoenix Motor Inc.
Phoenix Motor, a pioneer in the electric vehicle ("EV") industry, designs, builds, and integrates electric drive systems and manufactures heavy duty transit buses and medium and light duty commercial EVs. Phoenix operates two primary brands, "Phoenix", which is focused on commercial products including heavy and medium duty EVs (transit buses, shuttle buses, school buses and delivery trucks, among others) and "EdisonFuture", which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies. To learn more, please visit: phoenixev.ai.
Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These risk factors include, among others, those related to our ability to raise additional capital necessary to grow our business, operations and business and financial performance, our ability to grow demand for our products and revenue, our ability to become profitable, our ability to have access to an adequate supply of parts and materials and other critical components for our vehicles on the timeline we expect, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.
Contact:
IR@phoenixev.ai
Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
PEV@redchip.com
SOURCE: Phoenix Motor Inc.
View the original press release on ACCESS Newswire
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