CBAK Energy Faces Delisting Concerns
Ticker: CBAT · Form: 8-K · Filed: Dec 27, 2024 · CIK: 1117171
| Field | Detail |
|---|---|
| Company | Cbak Energy Technology, Inc. (CBAT) |
| Form Type | 8-K |
| Filed Date | Dec 27, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
CBAK might get delisted, check exchange status.
AI Summary
CBAK Energy Technology, Inc. filed an 8-K on December 27, 2024, reporting a notice of delisting or failure to meet continued listing standards. The company, formerly known as China BAK Battery Inc., is incorporated in Nevada and based in Dalian, China.
Why It Matters
This filing indicates potential issues with CBAK Energy Technology's compliance with stock exchange listing rules, which could lead to its shares being delisted.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading viability.
Key Players & Entities
- CBAK Energy Technology, Inc. (company) — Registrant
- December 26, 2024 (date) — Earliest event reported
- December 27, 2024 (date) — Filing date
- Nevada (jurisdiction) — State of incorporation
- China BAK Battery Inc. (company) — Former company name
FAQ
What is the specific reason for CBAK Energy Technology, Inc.'s potential delisting?
The filing states it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing', but does not detail the specific rule or standard not met.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on December 26, 2024.
What is CBAK Energy Technology, Inc.'s state of incorporation?
The company is incorporated in Nevada.
What were CBAK Energy Technology, Inc.'s former names?
The company was formerly known as China BAK Battery Inc. and Medina Coffee Inc.
What is the filing date of this 8-K report?
This 8-K report was filed on December 27, 2024.
Filing Stats: 696 words · 3 min read · ~2 pages · Grade level 13 · Accepted 2024-12-27 16:30:30
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value CBAT Nasdaq Capital Mark
- $1.00 — es to maintain a minimum bid price of US$1.00 per share. Nasdaq Listing Rule 5810(c)(
Filing Documents
- ea0226191-8k_cbak.htm (8-K) — 34KB
- 0001213900-24-113104.txt ( ) — 205KB
- cbat-20241226.xsd (EX-101.SCH) — 3KB
- cbat-20241226_lab.xml (EX-101.LAB) — 33KB
- cbat-20241226_pre.xml (EX-101.PRE) — 22KB
- ea0226191-8k_cbak_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 26, 2024, CBAK Energy Technology, Inc. (the "Company") received notice (the "Notice") from the Listing Qualifications staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is currently not in compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of US$1.00 per share. Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's common stock for the 30 consecutive business days from November 12 through December 24, 2024, the Company no longer meets the minimum bid price requirement. The Notice has no immediate effect on the listing of the Company's common stock, which will continue to trade uninterrupted on Nasdaq under the ticker "CBAT". Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until June 24, 2025 (the "Compliance Period"), to regain compliance with Nasdaq's minimum bid price requirement. If at any time during the Compliance Period, the closing bid price per share of the Company's common stock is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide the Company a written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance with the minimum bid price requirement by June 24, 2025, the Company may be eligible for an additional 180 calendar day grace period. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company's common stock, at which point the Com