Advent Technologies Faces Delisting Concerns
Ticker: ADNH · Form: 8-K · Filed: May 29, 2024 · CIK: 1744494
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: ADN
TL;DR
ADN might get kicked off Nasdaq - big trouble.
AI Summary
Advent Technologies Holdings, Inc. filed an 8-K on May 29, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The filing indicates potential issues with meeting Nasdaq's continued listing standards, though specific details on the exact rule violated or the timeline for compliance are not immediately clear from this summary.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being delisted from Nasdaq, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company has received a notice of delisting or failure to satisfy continued listing rules, indicating a significant risk to its stock exchange listing.
Key Players & Entities
- Advent Technologies Holdings, Inc. (company) — Registrant
- Nasdaq (company) — Stock Exchange
- May 24, 2024 (date) — Earliest event reported
- May 29, 2024 (date) — Filing date
FAQ
What specific continued listing rule did Advent Technologies Holdings, Inc. fail to satisfy?
The filing states "Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard" but does not specify which rule was violated in the provided text.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is May 24, 2024.
What is the filing date of this 8-K report?
This 8-K report was filed on May 29, 2024.
What is the company's state of incorporation?
The company's state of incorporation is Delaware.
What was the former name of Advent Technologies Holdings, Inc. before its name change?
The former name of Advent Technologies Holdings, Inc. was AMCI Acquisition Corp.
Filing Stats: 728 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-05-29 15:07:16
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
- adventtechnologies_8k.htm (8-K) — 34KB
- adventtechnologies_ex99-1.htm (EX-99.1) — 8KB
- 0001829126-24-003826.txt ( ) — 258KB
- adn-20240524.xsd (EX-101.SCH) — 4KB
- adn-20240524_def.xml (EX-101.DEF) — 26KB
- adn-20240524_lab.xml (EX-101.LAB) — 36KB
- adn-20240524_pre.xml (EX-101.PRE) — 25KB
- adventtechnologies_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 May 24, 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 Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the "First Quarter 10-Q") was not filed with the Securities and Exchange Commission by the required due date of May 14, 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 until Monday, June 17, 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 no later than June 17, 2024.
01
Item 7.01 Regulation FD Disclosure. A press release, dated May 29, 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.
01
Item 9.01 Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release issued May 29, 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: May 29, 2024 Advent Technologies Holdings, Inc. By: /s/ Vassilios Gregoriou Name: Vassilios Gregoriou Title: Chairman and Chief Executive Officer 2