ZENVIA RECEIVES NASDAQ NOTIFICATION REGARDING MINIMUM BID PRICE DEFICIENCY

Rhea-AI Summary

Zenvia Inc. received a notice from Nasdaq stating that it no longer meets the minimum bid price requirement. The notice has no immediate effect on the stock's listing, but the company has 180 days to regain compliance. If compliance is not regained, the stock may be subject to delisting.

Positive

• Zenvia Inc. has 180 days to regain compliance with Nasdaq's minimum bid price requirement

Negative

• If Zenvia Inc. does not regain compliance, its stock may be subject to delisting

SÃO PAULO, May 23, 2023 /PRNewswire/ -- On May 16, 2023, Zenvia Inc. (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's Class A common shares  (the "Securities") for the 30 previous consecutive business days, it no longer met Nasdaq's minimum bid price requirement of US$1 per share (the "Minimum Bid Price Requirement"), as set forth by Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A).

The Notice has no immediate effect on the listing of the Securities, which continue to trade uninterrupted on The Nasdaq Capital Market under the symbol "ZENV" and the Company's business operations are not affected by the receipt of the Notice.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided with an initial 180-calendar day period, ending on November 13, 2023, (the "Initial Compliance Period") to regain compliance with the Minimum Bid Price Requirement. If at any time during the Initial Compliance Period, the closing bid price per share of the Securities is of at least U$$1.00 for a minimum of 10 consecutive business days, it is expected that Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed.

If the Company does not regain compliance within the Initial Compliance Period, it may be eligible for an additional 180- calendar day compliance period, pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(ii), provided that it meets the applicable market value of publicly held shares requirement for continued listing and all applicable standards for initial listing on the Nasdaq Capital Market (except the Minimum Bid Price Requirement) and notifies Nasdaq of its intent to cure this deficiency during this second compliance period. If the Company has not regained compliance within the period(s) granted by Nasdaq, including any extensions, the Securities will be subject to delisting, pending an appeal to the Nasdaq Hearing Panel.

The Company intends to monitor the closing bid price of the Securities and will, if appropriate, consider implementing available options to resolve the noncompliance with the Minimum Bid Price Requirement, including, but not limited to implement a reverse stock split of the Securities. There can be no assurance that the Company will be able to regain compliance with Minimum Bid Price Requirement or that, if needed, Nasdaq will grant the Company an additional compliance period.

Contacts

Investor Relations Caio Figueiredo Fernando Schneider ir@zenvia.com

Media Relations – Grayling Lucia Domville – (646) 824-2856 – lucia.domville@grayling.com Fabiane Goldstein – (954) 625-4793 – fabiane.goldstein@grayling.com

 

About ZENVIA

With operations throughout Latin America and nearly 14,000 clients, ZENVIA is driven by the purpose of empowering companies to create unique experiences for end-consumers through its unified CX SaaS end-to-end platform. ZENVIA empowers companies to transform their existing customer experience from non-scalable, physical and impersonal interactions into highly scalable, digital-first and hyper-contextualized experiences across the customer journey. ZENVIA's platform provides a combination of (i) SaaS focused on campaigns, sales teams, customer service and engagement, (ii) tools, such as software application programming interfaces, or APIs, chatbots, single customer views, journey designers, documents composer and authentication, and (iii) channels, such as SMS, Voice, WhatsApp, Instagram and Webchat. Its comprehensive platform assists customers across multiple use cases, including marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, among others. ZENVIA's shares are traded on Nasdaq, under the ticker ZENV.

Forward Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "aim," "anticipate," "believe," "can," "continue," "estimate," "expect," "intend," "likely," "may," "might," "plan," "potential," "probable," "project," "seek," "should," "target," "would," or the opposite of these terms or other similar expressions. Actual results may differ materially from the results anticipated by the Company's forward-looking statements due to certain risks, uncertainties and other factors described under the heading "Risk Factors" in the Company's filings with the SEC. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future.

 

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SOURCE Zenvia

FAQ

What is the notice from Nasdaq about?

The notice states that Zenvia Inc. no longer meets Nasdaq's minimum bid price requirement.

What happens if Zenvia Inc. does not regain compliance?

If Zenvia Inc. does not regain compliance, its stock may be subject to delisting.

How long does Zenvia Inc. have to regain compliance?

Zenvia Inc. has 180 days to regain compliance with Nasdaq's minimum bid price requirement.