CN Energy Group Receives Nasdaq Deficiency Letter
Ticker: CNEY · Form: 6-K · Filed: Sep 12, 2024 · CIK: 1780785
Sentiment: neutral
Topics: listing-deficiency, nasdaq, compliance
Related Tickers: CN
TL;DR
Nasdaq sent CN Energy Group a deficiency letter for low public float value.
AI Summary
On September 6, 2024, CN Energy Group, Inc. received a deficiency letter from the Nasdaq Listing Qualifications Department regarding a minimum market value of publicly held shares. The company is a foreign private issuer and files annual reports under Form 20-F.
Why It Matters
This deficiency letter indicates potential non-compliance with Nasdaq listing rules, which could impact the company's stock trading status.
Risk Assessment
Risk Level: medium — Receiving a deficiency letter from Nasdaq raises concerns about the company's continued listing, which could lead to delisting if not resolved.
Key Players & Entities
- CN Energy Group, Inc. (company) — The company that received the deficiency letter.
- Nasdaq (company) — The stock exchange that issued the deficiency letter.
- September 6, 2024 (date) — The date the deficiency letter was received.
FAQ
What specific deficiency did CN Energy Group, Inc. receive from Nasdaq?
CN Energy Group, Inc. received a deficiency letter regarding a minimum market value of publicly held shares.
When did CN Energy Group, Inc. receive this deficiency letter?
The company received the deficiency letter on September 6, 2024.
Which department of Nasdaq issued the deficiency letter?
The deficiency letter was issued by the Listing Qualifications Department of Nasdaq.
What form does CN Energy Group, Inc. use for its annual reports?
CN Energy Group, Inc. files its annual reports under cover of Form 20-F.
Is CN Energy Group, Inc. a U.S. or foreign company for SEC filing purposes?
CN Energy Group, Inc. is identified as a foreign private issuer.
Filing Stats: 450 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-09-11 18:10:09
Key Financial Figures
- $1,000,000 M — ass A Shares") did not meet the minimum $1,000,000 Market Value of Publicly Held Shares ("MV
- $1,000,000 — VPHS for the Class A Shares is at least $1,000,000 for a minimum of ten consecutive busine
Filing Documents
- cney_6k.htm (6-K) — 12KB
- cney_ex991.htm (EX-99.1) — 7KB
- 0001477932-24-005663.txt ( ) — 21KB
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 September 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 Nasdaq Minimum Market Value of Publicly Held Shares Deficiency Letter On September 6, 2024, CN Energy Group. Inc. (the "Company") received a deficiency letter ("MVPHS Deficiency Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the preceding 30 consecutive business days, the Company's Class A Ordinary Shares (the "Class A Shares") did not meet the minimum $1,000,000 Market Value of Publicly Held Shares ("MVPHS") requirement for continued listing on Nasdaq pursuant to Nasdaq Listing Rules 5550(a)(5) (the "MVPHS Requirement," and the Company's non-compliance with this requirement, the "MVPHS Deficiency"). The receipt of the MVPHS Deficiency Letter has no immediate effect on the Company's Nasdaq listing. In accordance with Nasdaq Rule 5810(c)(3)(D), the Company has been provided an initial period of 180 calendar days, or until March 5, 2025 (the "Compliance Date"), to regain compliance with the MVPHS Requirement. If, at any time before the Compliance Date, the MVPHS for the Class A Shares is at least $1,000,000 for a minimum of ten consecutive business days, the Staff will provide the Company with written confirmation of compliance with the MVPHS Requirement. In the event the Company does not regain compliance with the above requirement prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may apply to transfer the Company's securities to The Nasdaq Capital Market. The Company intends to monitor the MVPHS of the Class A Shares and may, if appropriate, consider available options to regain compliance with the MVPHS Requirement. On September 11, 2024, the Company issued a press release disclosing its receipt of the MVPHS Deficiency Letter. A copy of the aforesaid press release is filed herewith as Exhibit 99.1. 2 EXHIBITS Exhibit No. Description 99.1 Press Release 3 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: September 12, 2024 By: /s/ Wenhua Liu Name: Wenhua Liu Title: Interim Chief Executive Officer 4