NWTN Faces Potential Nasdaq Delisting; Shares Fall After Hours

MT Newswires Live

2024/11/19

NWTN (NWTN) said late Monday it faces a potential delisting from the Nasdaq Stock Market over its failure to file its annual report on form 20-F for the fiscal year ended Dec. 31, 2023, with the US Securities and Exchange Commission on time.

By Tuesday, the company plans to request a hearing to appeal the Nasdaq's decision and for an extended stay of a potential trading suspension until the hearings panel has rendered a decision on the appeal.

NWTN said it is working "diligently" to file the report "as soon as practicable."

The company's shares were down 2.5% in after-hours activity.

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