Tritium Receives Nasdaq Delisting Determination
21 Março 2024 - 8:00AM
Tritium DCFC Limited (Nasdaq: DCFC) (“Tritium” or the “Company”), a
global developer and manufacturer of direct current (“DC”) fast
chargers for electric vehicles (“EVs”), today announced that on
March 15, 2024 the Company received a delisting determination
notice (the “Delisting Notice”) from the Nasdaq Stock Market LLC
(“Nasdaq”).
As previously reported, on October 12, 2023 the Company received
an initial notice (“the Deficiency Notice”) from Nasdaq indicating
that the Company was not in compliance with Nasdaq Listing Rule
5450(a)(1) (the “Minimum Bid Price Requirement”) because the bid
price of the Company’s ordinary shares trading on the Nasdaq Global
Market had closed below $1.00 per share for the previous 30
consecutive business days. In accordance with Nasdaq Listing Rule
5810(c)(3)(A), we were provided a period of 180 calendar days, or
until April 9, 2024, to regain compliance with the Minimum Bid
Price Requirement.
On March 15, 2024, the Company received the subsequent Delisting
Notice from Nasdaq notifying the Company that, as of March 15,
2024, the Company's ordinary shares had a closing bid price of
$0.10 or less for ten consecutive trading days and that, consistent
with Nasdaq Listing Rule 5810(c)(3)(A)(iii), Nasdaq had determined
to begin the process to delist the Company's common stock from the
Nasdaq Global Market. The Delisting Notice provided that the
Company had an opportunity to appeal Nasdaq's decision.
On March 22, 2024, the Company intends to submit a request for a
hearing before the Nasdaq Hearings Panel to appeal the Delisting
Notice. The Company simultaneously is holding an extraordinary
general meeting of shareholders on March 22, 2024 to vote upon a
reverse stock split on the basis that every two-hundred (200)
ordinary shares of the Company’s stock (the “Shares”) be
consolidated into one (1) Share, with the consolidation to take
effect upon the completion of administrative procedures pursuant to
listing exchange requirements with an anticipated effective date of
April 1, 2024.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures
proprietary hardware and software to create advanced and reliable
DC fast chargers for electric vehicles. Tritium’s compact and
robust chargers are designed to look great on Main Street and
thrive in harsh conditions, through technology engineered to be
easy to install, own, and use. Tritium is focused on continuous
innovation in support of our customers around the world.
For more information, visit tritiumcharging.com.
Forward Looking Statements
This press release includes “forward-looking statements.” The
Company’s actual results may differ from its expectations,
estimates and projections and consequently, you should not rely on
these forward-looking statements as predictions of future events.
Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believe,” “predict,” “potential,” “continue,” “aim” and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, the Company’s expectations, hopes, beliefs, intentions,
or strategies for the future, including those that relate to the
Company’s share price and good standing with Nasdaq. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. You should carefully consider
the risks and uncertainties described in the documents filed by the
Company from time to time with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Most of these factors are
outside the Company’s control and are difficult to predict. The
Company cautions not to place undue reliance upon any
forward-looking statements, including projections, which speak only
as of the date made. The Company does not undertake or accept any
obligation to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based.
Media ContactNathan Dunlop
media@tritiumcharging.com
Tritium DCFC (NASDAQ:DCFCW)
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