Dragonfly Energy Holdings (DFLI) said in a filing Wednesday that it received a notice from Nasdaq on Dec. 12 stating that it does not meet the requirement to maintain a minimum market value of listed securities, or MVLS, of $35 million for continued listing on the Nasdaq Capital Market.
The company also does not meet alternative Nasdaq listing standards related to stockholders' equity or net income, the filing said.
The company has until June 10, 2025, to regain compliance by having an MVLS of at least $35 million for ten consecutive business days. If the company fails to meet this requirement by that date, it may face delisting but can appeal this decision, Dragonfly said.
The company added that it may take action to regain compliance, though there is no guarantee of success.
The notice has no immediate effect on trading of the company's stock or warrants, Dragonfly said.
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