Ondas Holdings Inc. Faces Delisting Notice
Ticker: ONDS · Form: 8-K · Filed: Nov 19, 2024 · CIK: 1646188
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
Ondas Holdings Inc. got a delisting notice, might be in trouble.
AI Summary
Ondas Holdings Inc. filed an 8-K on November 19, 2024, to report a notice of delisting or failure to satisfy continued listing rules. The company is also reporting other events and filing financial statements and exhibits.
Why It Matters
This filing indicates potential issues with Ondas Holdings Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's ability to remain publicly traded.
Key Players & Entities
- Ondas Holdings Inc. (company) — Registrant
- November 19, 2024 (date) — Filing Date
- 001-39761 (other) — Commission File Number
- ZEV VENTURES INC. (company) — Former Company Name
FAQ
What specific listing rule or standard has Ondas Holdings Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Ondas Holdings Inc. has failed to satisfy, only that a notice has been received.
What are the implications of this notice for Ondas Holdings Inc.'s stock trading?
A notice of delisting or failure to satisfy listing rules typically signals potential trading disruptions or the eventual removal of the stock from its current exchange.
When was the company formerly known as ZEV VENTURES INC.?
The company changed its name from ZEV VENTURES INC. on June 24, 2015.
What is the business address of Ondas Holdings Inc.?
The business address is One Marina Park Drive, Suite 1410, Boston, MA 02210.
What is the primary business of Ondas Holdings Inc. according to its SIC code?
Ondas Holdings Inc.'s Standard Industrial Classification (SIC) code is 3663, which corresponds to RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT.
Filing Stats: 813 words · 3 min read · ~3 pages · Grade level 11.7 · Accepted 2024-11-19 17:29:07
Key Financial Figures
- $0.0001 — ich registered Common Stock par value $0.0001 ONDS The Nasdaq Stock Market LLC
- $1.00 — mmon stock had closed below the minimum $1.00 per share requirement for continued lis
Filing Documents
- ea0221865-8k_ondas.htm (8-K) — 28KB
- ea022186501ex99-1_ondas.htm (EX-99.1) — 10KB
- 0001213900-24-100256.txt ( ) — 212KB
- onds-20241119.xsd (EX-101.SCH) — 3KB
- onds-20241119_lab.xml (EX-101.LAB) — 33KB
- onds-20241119_pre.xml (EX-101.PRE) — 22KB
- ea0221865-8k_ondas_htm.xml (XML) — 4KB
01. Notice
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed by Ondas Holdings Inc. (the "Company") in a Current Report on Form 8-K filed on May 24, 2024, the Company received a letter from The Nasdaq Stock Market LLC ("Nasdaq") indicating that, for the last thirty (30) consecutive business days, the bid price for the Company's common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). On November 19, 2024, the Company received a letter from Nasdaq notifying the Company that it had been granted an additional 180 days to regain compliance with the Minimum Bid Price Requirement based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the Minimum Bid Price Requirement, and the Company's written notice of its intention to cure the deficiency during the extended compliance period. Nasdaq's notice has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Capital Market. The Company can regain compliance with the Minimum Bid Price Requirement if the closing bid price of its common stock is at least $1.00 per share for a minimum of ten (10) consecutive business days during the additional 180-day compliance period. If the Company is not able to cure the deficiency during the second compliance period, Nasdaq will provide written notice to the Company that the Company's common stock will be subject to delisting. In the event of such notification, the Company may appeal Nasdaq's determination to delist its securities, but there can be no assurance that Nasdaq would grant the Company's request for continued listing. The Company intends to actively monitor the minimum bid price
01. Other Events
Item 8.01. Other Events. On November 19, 2024, the Company issued a press release announcing the receipt of the notification letter from Nasdaq that the Company has been granted an additional 180-day compliance period to regain compliance with the Minimum Bid Price Requirement. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release, dated November 19, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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. Date: November 19, 2024 ONDAS HOLDINGS INC. By: /s/ Eric A. Brock Eric A. Brock Chief Executive Officer 2