FuelCell Energy Faces Nasdaq Listing Rule Concerns

TL;DR

FCEL might get kicked off Nasdaq if their stock price doesn't go up!

AI Summary

FuelCell Energy, Inc. (FCEL) filed an 8-K on May 31, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is addressing its non-compliance with Nasdaq's minimum bid price requirement, which it aims to rectify within the prescribed timeframe.

Why It Matters

This filing indicates potential issues with FuelCell Energy's stock price meeting Nasdaq's minimum bid price requirement, which could lead to delisting if not resolved.

Risk Assessment

Risk Level: medium — The company is at risk of being delisted from Nasdaq if it cannot meet the minimum bid price requirement.

Key Players & Entities

• FuelCell Energy, Inc. (company) — Registrant
• Nasdaq (company) — Stock Exchange
• May 31, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share FCEL The Nasdaq
• $1.00 — stock was below the required minimum of $1.00 per share for the previous 30 consecuti

Filing Documents

• fcel-20240531x8k.htm (8-K) — 37KB
• 0001558370-24-008954.txt ( ) — 157KB
• fcel-20240531.xsd (EX-101.SCH) — 3KB
• fcel-20240531_lab.xml (EX-101.LAB) — 18KB
• fcel-20240531_pre.xml (EX-101.PRE) — 11KB
• fcel-20240531x8k_htm.xml (XML) — 5KB

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 May 31, 2024, FuelCell Energy, Inc. (the "Company") received written notice from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") notifying the Company that it is not in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price of the Company's common stock was below the required minimum of $1.00 per share for the previous 30 consecutive business days. This notification has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Global Market. In accordance with Nasdaq Listing Rules, the Company has a period of 180 calendar days, or until November 27, 2024, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days during this 180-calendar day period. If at any time during this 180-calendar day period the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide the Company with written confirmation that it has regained compliance with the minimum bid price requirement and this matter will be closed. If the Company does not regain compliance with Nasdaq Listing Rule 5450(a)(1) by November 27, 2024, the Company may be eligible for an additional 180 calendar day compliance period if it transfers the listing of its common stock to The Nasdaq Capital Market. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards of The Nasdaq Capital Market, with the exception of the minimum bid price requirement, and would need to provide written notice of its intention to cure the minimum bid price deficiency during the second compliance period b

SIGNATURES

SIGNATURES 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 hereunto duly authorized. FUELCELL ENERGY, INC. Date: June 6, 2024 By: /s/ Michael S. Bishop Michael S. Bishop Executive Vice President, Chief Financial Officer, and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR