Vision Marine Technologies Inc. Regains Compliance with Nasdaq Listing Requirements
Vision Marine Technologies (NASDAQ:VMAR) has received a compliance notice from the Nasdaq Hearing Panel confirming it has regained compliance with the bid price requirement under Nasdaq Listing Rule 5550(a)(2). The company will be subject to a mandatory panel monitor for one year to ensure continued compliance with listing requirements. If any non-compliance is found during this period, Vision Marine will not be permitted to provide a compliance plan and may face immediate delisting proceedings, though it will have the opportunity to request a new hearing.
Vision Marine Technologies (NASDAQ:VMAR) ha ricevuto una notifica di conformità dal Nasdaq Hearing Panel che conferma di aver riconquistato la conformità con il requisito di prezzo di offerta secondo la Regola di quotazione Nasdaq 5550(a)(2). L'azienda sarà soggetta a un monitoraggio obbligatorio del pannello per un anno per garantire il rispetto continuo dei requisiti di quotazione. Se durante questo periodo verrà riscontrata qualche non conformità, Vision Marine non avrà il permesso di presentare un piano di conformità e potrebbe affrontare immediati procedimenti di delisting, sebbene avrà l'opportunità di richiedere una nuova audizione.
Vision Marine Technologies (NASDAQ:VMAR) ha recibido un aviso de cumplimiento del Nasdaq Hearing Panel confirmando que ha recuperado el cumplimiento del requisito de precio de oferta bajo la Regla de cotización Nasdaq 5550(a)(2). La empresa estará sujeta a un monitoreo obligatorio del panel durante un año para garantizar el cumplimiento continuo de los requisitos de cotización. Si se encuentra alguna no conformidad durante este período, Vision Marine no podrá presentar un plan de cumplimiento y puede enfrentar procedimientos de deslistado inmediato, aunque tendrá la oportunidad de solicitar una nueva audiencia.
비전 마린 테크놀로지스 (NASDAQ:VMAR)는 나스닥 청문위원회로부터 나스닥 상장 규칙 5550(a)(2)에 따른 입찰 가격 요건의 준수를 회복했다는 확인 통지를 받았습니다. 회사는 상장 요건을 지속적으로 준수할 수 있도록 1년 동안 의무 패널 모니터링을 받게 됩니다. 이 기간 동안 비준수가 발견될 경우, 비전 마린은 준수 계획을 제출할 수 없으며 즉각적으로 상장 폐지 절차에 직면할 수 있지만, 새로운 청문회를 요청할 기회는 가질 것입니다.
Vision Marine Technologies (NASDAQ:VMAR) a reçu un avis de conformité du Nasdaq Hearing Panel confirmant qu'elle a retrouvé sa conformité avec l'exigence de prix d'offre en vertu de la Règle de cotation Nasdaq 5550(a)(2). L'entreprise sera soumise à un suivi obligatoire du panel pendant un an afin de garantir le respect continu des exigences d'inscription. Si une non-conformité est constatée durant cette période, Vision Marine ne pourra pas soumettre de plan de conformité et pourrait faire face à des procédures de radiation immédiate, bien qu'elle ait la possibilité de demander une nouvelle audience.
Vision Marine Technologies (NASDAQ:VMAR) hat eine Compliance-Mitteilung vom Nasdaq Hearing Panel erhalten, die bestätigt, dass das Unternehmen die Anforderungen an den Angebotspreis gemäß der Nasdaq Listing Rule 5550(a)(2) wieder erfüllt hat. Das Unternehmen unterliegt für ein Jahr einer verbindlichen Panelüberwachung, um die fortlaufende Einhaltung der Listing-Anforderungen sicherzustellen. Falls während dieses Zeitraums eine Nichteinhaltung festgestellt wird, wird Vision Marine nicht in der Lage sein, einen Compliance-Plan vorzulegen, und könnte sofortige Delisting-Verfahren gegenüberstehen, obwohl es die Möglichkeit hat, eine neue Anhörung zu beantragen.
- Regained compliance with Nasdaq listing requirements
- Maintains listing on Nasdaq Capital Market
- Subject to strict one-year monitoring period
- Risk of immediate delisting if new compliance issues arise during monitoring period
- No grace period or compliance plan allowed for future violations
Insights
Regaining Nasdaq compliance is a critical milestone that removes a significant near-term risk for Vision Marine Technologies. The company has successfully met the minimum bid price requirement, which helps maintain institutional investor access and market liquidity. However, the one-year monitoring period imposes strict conditions with zero tolerance for future violations - any non-compliance could trigger immediate delisting proceedings without the usual grace periods.
While positive for maintaining market access, this development is primarily administrative and doesn't directly impact the company's operational performance or market position in electric marine propulsion. The
MONTREAL, QC / ACCESSWIRE / November 7, 2024 / Vision Marine Technologies Inc. (the "Company") (NASDAQ:VMAR) a pioneer in electric marine propulsion, is pleased to announce that the Company received a compliance notice (the "Notice") from the Nasdaq Hearing Panel (the "Panel") informing the Company that it has regained compliance with the bid price requirement under Nasdaq Listing Rule 5550(a)(2). This compliance fulfils the requirements outlined by the Panel in its decision dated October 3, 2024.
The Notice further stated that, pursuant to Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory panel monitor for a period of one year from the date of the Notice to ensure that the Company maintains long-term compliance with all of the continued listing requirements (the "Requirements"). If, within that one-year monitoring period, the Staff finds that the Company is no longer in compliance with any Requirement, then, notwithstanding Nasdaq Rule 5815(d)(4)(A), the Company will not be permitted to provide the Staff with a plan of compliance with respect to such deficiency and the Staff will not be permitted to grant additional time for the Company to regain compliance with respect to such deficiency, nor will the Company be afforded an applicable cure or compliance period notwithstanding Nasdaq Rule 5810(c)(2). Instead, the Staff will issue a Delist Determination Letter and the Company will have an opportunity to request a new hearing with the initial Panel or a newly convened hearings panel if the initial Panel is unavailable.
As of the Notice, the Company has successfully met this criterion, reinforcing its commitment to meet all Nasdaq regulatory requirements.
This achievement demonstrates Vision Marine's commitment to strengthening shareholder value and maintaining its position on the Nasdaq Capital Market, further supporting the Company's growth and development in advancing electric propulsion solutions for the marine propulsion industry.
About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (NASDAQ:VMAR) epitomizes the marine industry's shift towards electric propulsion, offering the pioneering E-Motion™ outboard powertrain system. This innovative technology represents a significant leap forward in marine propulsion, combining advanced battery packs, inverters, and high-efficiency motors with proprietary software and assembly techniques. Vision Marine's commitment to eco-friendly electric powerboats is reshaping the recreational boating experience, offering higher speeds, longer ranges, and smoother rides than traditional internal combustion engine boats. With a focus on design, innovation, and craftsmanship, Vision Marine continues to redefine recreational boating for a more sustainable future.
Forward-Looking Statements
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include predictions, expectations, estimates, and other information that might be considered future events or trends, not relating to historical matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Vision Marine's Annual Report on Form 20-F for the year ended August 31, 2023, and its periodic filings with the SEC provide a detailed discussion of these risks and uncertainties. Vision Marine does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, as required by law.
Website: visionmarinetechnologies.com
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
Investor and Company Contact:
Bruce Nurse
(303) 919-2913
bn@v-mti.com
SOURCE: Vision Marine Technologies Inc
View the original press release on accesswire.com
FAQ
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