Energy Vault Holdings to Move Listing to Nasdaq

TL;DR

NRGV is moving from NYSE to Nasdaq by Sept 18th.

AI Summary

Energy Vault Holdings, Inc. filed an 8-K on September 13, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is transitioning its listing from the New York Stock Exchange (NYSE) to the Nasdaq Capital Market. This move is expected to be completed by September 18, 2024.

Why It Matters

This listing transfer indicates a potential shift in the company's market perception and accessibility for investors, as Nasdaq often hosts different types of companies than the NYSE.

Risk Assessment

Risk Level: medium — Moving exchanges can signal underlying financial or operational challenges, though it can also be a strategic move for better visibility or cost savings.

Key Players & Entities

• Energy Vault Holdings, Inc. (company) — Registrant
• New York Stock Exchange (NYSE) (company) — Current Exchange
• Nasdaq Capital Market (company) — New Exchange
• September 13, 2024 (date) — Filing Date
• September 18, 2024 (date) — Expected Completion Date

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share NRGV New York Stock Exchange
• $1.00 — he Company's Common Stock was less than $1.00 over a consecutive 30 trading-day perio

Filing Documents

• nrgv-20240913.htm (8-K) — 29KB
• 0001828536-24-000175.txt ( ) — 159KB
• nrgv-20240913.xsd (EX-101.SCH) — 2KB
• nrgv-20240913_lab.xml (EX-101.LAB) — 23KB
• nrgv-20240913_pre.xml (EX-101.PRE) — 13KB
• nrgv-20240913_htm.xml (XML) — 3KB

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 September 13, 2024, Energy Vault Holdings, Inc. (the "Company") was notified by the New York Stock Exchange (the "NYSE") that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company's Common Stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company's Common Stock from the NYSE. The Company plans to notify the NYSE by September 27, 2024 that it intends to cure the stock price deficiency and to return to compliance with the NYSE continued listing standard. The Company can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. The Company intends to consider available alternatives, subject to stockholder approval no later than at the Company's next annual meeting of stockholders, if necessary to cure the stock price non-compliance. Under the NYSE's rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require stockholder approval at its next annual meeting of stockholders, the price condition will be deemed cured if the price promptly exceeds $1.00 per share, and the price remains above that level for at least the following 30 trading days. The Company's Common Stock will continue to be listed and trade on the NYSE during this period, subject to the Company's compliance with other NYSE continued listing standards. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K includes forward-looking statements that reflect the Company's

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. ENERGY VAULT HOLDINGS, INC. Date: September 13, 2024 By: /s/ Michael Beer Michael Beer Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR