Vicinity Motor Corp. Receives Additional 180 Day Extension By Nasdaq To Regain Compliance With Minimum Bid Price Rule
Portfolio Pulse from Benzinga Newsdesk
Vicinity Motor Corp. (NASDAQ:VEV), a North American supplier of commercial electric vehicles, has received a second 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share for continued listing. Initially notified of non-compliance on October 24, 2023, the company now has until October 21, 2024, to comply. The company's shares will continue to trade on The Nasdaq Capital Market under the symbol 'VEV'. Vicinity intends to take all reasonable measures to regain compliance.
April 24, 2024 | 12:37 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Vicinity Motor Corp. received a second 180-day extension from Nasdaq to meet the minimum $1.00 bid price requirement, extending the deadline to October 21, 2024.
The extension provides Vicinity Motor Corp. additional time to comply with Nasdaq's listing requirements, potentially avoiding delisting. This news could be viewed positively by investors as it reflects Nasdaq's willingness to allow the company more time to improve its stock price, thereby potentially increasing investor confidence and the stock's attractiveness in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100