CN Energy Group Receives Nasdaq Deficiency Notice
Ticker: CNEY · Form: 6-K · Filed: May 30, 2024 · CIK: 1780785
Sentiment: bearish
Topics: listing-deficiency, nasdaq, compliance
Related Tickers: CNEY
TL;DR
CNEY got a warning from Nasdaq, might be in trouble with listing rules.
AI Summary
On May 28, 2024, CN Energy Group, Inc. (CNEY) received a deficiency notice from the Nasdaq Stock Market LLC's Listing Qualifications Department. The notice indicates CNEY is not in compliance with Nasdaq's listing rules, though the specific reasons are not detailed in this filing.
Why It Matters
Receiving a deficiency notice from Nasdaq can lead to delisting if not resolved, impacting the company's ability to trade publicly and investor confidence.
Risk Assessment
Risk Level: medium — A deficiency notice from Nasdaq raises concerns about the company's compliance with listing standards, potentially leading to delisting if not addressed.
Key Players & Entities
- CN Energy Group, Inc. (company) — The company that received the notice.
- CNEY (company) — Ticker symbol for CN Energy Group, Inc.
- Nasdaq Stock Market LLC (company) — The exchange that issued the deficiency notice.
- May 28, 2024 (date) — Date the deficiency notice was received.
FAQ
What specific deficiency led to the notice from Nasdaq?
The filing does not specify the exact deficiency that led to the notice from Nasdaq, only that one was received on May 28, 2024.
What is the name of the department at Nasdaq that issued the notice?
The Listing Qualifications Department of the Nasdaq Stock Market LLC issued the notice.
What is the ticker symbol for CN Energy Group, Inc.?
The ticker symbol for CN Energy Group, Inc. is CNEY.
When did CN Energy Group, Inc. receive the deficiency notice?
CN Energy Group, Inc. received the deficiency notice on May 28, 2024.
What are the potential consequences of receiving a deficiency notice from Nasdaq?
A deficiency notice indicates non-compliance with Nasdaq's listing rules, which could lead to delisting if the issues are not resolved.
Filing Stats: 461 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-05-30 16:05:21
Key Financial Figures
- $1.00 — Shares") had been below the minimum of $1.00 per Ordinary Share required for continu
Filing Documents
- cney_6k.htm (6-K) — 12KB
- 0001477932-24-003387.txt ( ) — 13KB
From the Filing
cney_6k.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the Month of May 2024 Commission file number: 001-39978 CN ENERGY GROUP. INC. Building 2-B, Room 206, No. 268 Shiniu Road Liandu District, Lishui City, Zhejiang Province The People's Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Deficiency Notice Received From Nasdaq On May 28, 2024, CN Energy Group. Inc. ("CNEY" or the "Company") received a deficiency notice (the "Notice") from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's Class A ordinary shares (the "Ordinary Shares") had been below the minimum of $1.00 per Ordinary Share required for continued listing on the Nasdaq Capital Market (the "Minimum Bid Price Rule") and did not meet the Minimum Bid Price Rule set forth in Nasdaq Listing Rule 5550(a)(2). The Notice has no immediate effect on the listing of the Ordinary Shares, which will continue to trade on the Nasdaq Capital Market under the symbol "CNEY" without interruption at this time. In accordance with Nasdaq Listing Rules, the Company has 180 calendar days, or until November 25, 2024, to regain compliance with the Minimum Bid Price Rule. If at any time before November 25, 2024, the closing bid price of the Ordinary Shares is at least $1.00 per Class A Ordinary Share for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance with the Minimum Bid Price Rule and the matter will be closed. If the Company does not regain compliance with the Minimum Bid Price Rule by November 25, 2024, the Company may be eligible for an additional 180-day calendar period to regain compliance or be subject to delisting. The Company's business operations are not affected by the receipt of the Notice. The Company intends to monitor the closing bid price of its Class A Ordinary Shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding Class A Ordinary Shares, to regain compliance with the Minimum Bid Price Rule. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CN Energy Group. Inc. Date: May 30, 2024 By: /s/ Wenhua Liu Name: Wenhua Liu Title: Interim Chief Executive Officer 3