Advent Technologies Faces Nasdaq Delisting Warning
Ticker: ADNH · Form: 8-K · Filed: Apr 23, 2024 · CIK: 1744494
Sentiment: bearish
Topics: delisting-warning, compliance, stock-price
Related Tickers: ADN
TL;DR
Nasdaq's threatening to kick ADN off the exchange if they don't get their stock price above $1 ASAP.
AI Summary
Advent Technologies Holdings, Inc. announced on April 17, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules due to its stock price falling below $1.00 for 30 consecutive business days. The company has 180 days to regain compliance by having its stock close at $1.00 or higher for a minimum of 10 consecutive business days.
Why It Matters
This delisting warning signals potential financial distress and could negatively impact investor confidence and the company's ability to raise capital.
Risk Assessment
Risk Level: high — The company is at high risk of delisting from the Nasdaq, which would severely impact its liquidity and market perception.
Key Numbers
- $1.00 — Minimum Stock Price (Required closing price to avoid delisting)
- 30 — Consecutive Business Days (Duration stock price was below $1.00)
- 180 — Compliance Period (Days to regain compliance)
Key Players & Entities
- Advent Technologies Holdings, Inc. (company) — Registrant
- Nasdaq Stock Market (company) — Listing Exchange
- $1.00 (dollar_amount) — Minimum stock price for compliance
- 180 days (date) — Compliance period
- 10 consecutive business days (date) — Minimum period to maintain compliance
FAQ
What is the specific reason Advent Technologies Holdings, Inc. received a delisting warning?
The company received a notice from the Nasdaq Stock Market because its stock price has closed below $1.00 per share for 30 consecutive business days.
What is the deadline for Advent Technologies to regain compliance with Nasdaq listing rules?
The company has 180 calendar days from the date of the notice (April 17, 2024) to regain compliance.
How can Advent Technologies regain compliance with the Nasdaq listing rules?
The company must have its stock close at $1.00 or higher for a minimum of 10 consecutive business days during the 180-day compliance period.
What is the ticker symbol for Advent Technologies Holdings, Inc.?
The ticker symbol is ADN.
What was the previous name of Advent Technologies Holdings, Inc.?
The company was formerly known as AMCI Acquisition Corp.
Filing Stats: 731 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2024-04-23 17:05:51
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share ADN The Nasdaq Stock Mark
- $11.50 — mon stock, each at an exercise price of $11.50 ADNWW The Nasdaq Stock Market LLC
Filing Documents
- adventtech_8k.htm (8-K) — 42KB
- adventtech_ex99-1.htm (EX-99.1) — 8KB
- 0001829126-24-002723.txt ( ) — 269KB
- adn-20240417.xsd (EX-101.SCH) — 4KB
- adn-20240417_def.xml (EX-101.DEF) — 26KB
- adn-20240417_lab.xml (EX-101.LAB) — 36KB
- adn-20240417_pre.xml (EX-101.PRE) — 25KB
- adventtech_8k_htm.xml (XML) — 6KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 17, 2024, Advent Technologies Holdings, Inc. (the "Company") received a letter (the "Letter") from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") notifying the Company that it is not in compliance with periodic requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "2023 Form 10-K") was not filed with the Securities and Exchange Commission by the required due date of March 31, 2024. This Letter received from Nasdaq has no immediate effect on the listing or trading of the Company's shares. Under Nasdaq rules, the Company now has 60 calendar days, until Sunday, June 16, 2024, to submit a plan to regain compliance with Nasdaq Listing Rules. If Nasdaq accepts the Company's plan, Nasdaq may grant an exception until Monday, October 14, 2024, as instructed by the Letter, to regain compliance with the Nasdaq Listing Rules. However, there is no assurance that Nasdaq will accept the Company's plan to regain compliance or, if accepted, that the Company will be able to regain compliance with Nasdaq's rules by October 14, 2024. The Company expects and intends to submit to Nasdaq a compliance plan by April 30, 2024.
01
Item 7.01 Regulation FD Disclosure. A press release, dated April 23, 2024, disclosing the Company's receipt of the Nasdaq notification letter referenced above is attached hereto as Exhibit 99.1. The information furnished in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release issued April 23, 2024. 104 Cover Page Interactive Data File. (Embedded within the Inline XBRL document.) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 23, 2024 Advent Technologies Holdings, Inc. By: /s/ Vassilios Gregoriou Name: Vassilios Gregoriou Title: Chairman and Chief Executive Officer 2