Energous Corp. Faces Nasdaq Listing Rule Violation

TL;DR

WATT got a notice from Nasdaq for failing a listing rule - could get delisted.

AI Summary

Energous Corporation (WATT) received a notice on August 29, 2024, indicating it failed to meet a continued listing rule or standard for the Nasdaq Capital Market. The company is currently evaluating the notice and its options, which may include appealing the determination or submitting a plan to regain compliance.

Why It Matters

Failure to regain compliance with Nasdaq listing rules could lead to the delisting of Energous Corporation's stock, significantly impacting its liquidity and investor confidence.

Risk Assessment

Risk Level: high — The company is at high risk of delisting from the Nasdaq Capital Market, which would severely impact its stock's tradability and investor perception.

Key Players & Entities

• Energous Corporation (company) — Registrant
• Nasdaq Capital Market (company) — Listing Exchange
• August 29, 2024 (date) — Date of Notice

FAQ

Key Financial Figures

• $0.00001 — ich registered Common Stock, par value $0.00001 per share WATT The Nasdaq Stock Mar
• $1.00 m — ess days, is not in compliance with the $1.00 minimum bid price requirement for continu
• $1.00 — pany's common stock must meet or exceed $1.00 per share for a minimum of ten consecut

Filing Documents

• tm2423089d1_8k.htm (8-K) — 25KB
• tm2423089d1_8kimg001.jpg (GRAPHIC) — 7KB
• 0001104659-24-095606.txt ( ) — 214KB
• watt-20240829.xsd (EX-101.SCH) — 3KB
• watt-20240829_lab.xml (EX-101.LAB) — 33KB
• watt-20240829_pre.xml (EX-101.PRE) — 22KB
• tm2423089d1_8k_htm.xml (XML) — 4KB

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 August 29, 2024, Energous Corporation d/b/a Energous Wireless Power Solutions (the "Company") received notice (the "Notice") from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company, based on the closing bid price of the Company's common stock for the last 30 consecutive business days, is not in compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until February 25, 2025, to regain compliance with the Bid Price Rule. To regain compliance, the minimum bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-calendar day grace period. In the event the Company does not regain compliance with the Bid Price Rule by February 25, 2025, the Company may be eligible for an additional 180-calendar day compliance period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, the Staff will inform the Company that it has been granted an additional 180 calendar days. However, if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Staff will provide notice that its securities will be subject to delisting

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. ENERGOUS CORPORATION Date: August 30, 2024 By: /s/ Mallorie Burak Name: Mallorie Burak Title: Interim Principal Executive Officer and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR