NEWS
Phoenix Motor Inc. Appeals Nasdaq Delisting Determination
Tuesday, 15th April at 4:20 pm
ANAHEIM, CA / ACCESS Newswire / April 15, 2025 / Phoenix Motor Inc. (the "Company"), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that it has formally appealed the Nasdaq delisting determination and is taking proactive steps to protect shareholder value following the trading halt of its common stock (previously traded under: PEV).
Hearing Request and Continued OTC Trading
As previously disclosed, Nasdaq suspended trading of the Company's common stock effective today, April 15, 2025, due to non-compliance with the minimum bid price requirement and the Company's failure to hold an annual shareholder's meeting in 2024. The Company has:
• Timely requested a hearing before the Nasdaq Hearings Panel to appeal the delisting decision.
• Initiated the transition to over-the-counter (OTC) trading. The Company will provide updates regarding OTC market availability.
" We respect Nasdaq's process and are pursuing all avenues to regain compliance through the appeal process," said Xiaofeng Peng, CEO of Phoenix Motor Inc. "Our operations and growth strategy remain unchanged, and we are committed to maintaining transparency with our investors during this transition."
Progress on Compliance Measures
The Company is advancing its plan to meet Nasdaq's requirements, including:
1. Reverse Stock Split Approval - The Board continues to recommend shareholders approve a reverse stock split (ratio range: 1-for-1.5 to 1-for-5) to address the bid price deficiency.
2. Imminent Annual Meeting - The shareholder meeting will proceed as scheduled on April 18, 2025, at the Company's headquarters (1500 Lakeview Loop, Anaheim, CA), to resolve corporate governance requirements.
Tuesday, 15th April at 4:20 pm
ANAHEIM, CA / ACCESS Newswire / April 15, 2025 / Phoenix Motor Inc. (the "Company"), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced that it has formally appealed the Nasdaq delisting determination and is taking proactive steps to protect shareholder value following the trading halt of its common stock (previously traded under: PEV).
Hearing Request and Continued OTC Trading
As previously disclosed, Nasdaq suspended trading of the Company's common stock effective today, April 15, 2025, due to non-compliance with the minimum bid price requirement and the Company's failure to hold an annual shareholder's meeting in 2024. The Company has:
• Timely requested a hearing before the Nasdaq Hearings Panel to appeal the delisting decision.
• Initiated the transition to over-the-counter (OTC) trading. The Company will provide updates regarding OTC market availability.
" We respect Nasdaq's process and are pursuing all avenues to regain compliance through the appeal process," said Xiaofeng Peng, CEO of Phoenix Motor Inc. "Our operations and growth strategy remain unchanged, and we are committed to maintaining transparency with our investors during this transition."
Progress on Compliance Measures
The Company is advancing its plan to meet Nasdaq's requirements, including:
1. Reverse Stock Split Approval - The Board continues to recommend shareholders approve a reverse stock split (ratio range: 1-for-1.5 to 1-for-5) to address the bid price deficiency.
2. Imminent Annual Meeting - The shareholder meeting will proceed as scheduled on April 18, 2025, at the Company's headquarters (1500 Lakeview Loop, Anaheim, CA), to resolve corporate governance requirements.
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FurShark2972 : if it does stay on OTC, will MOOMOO allow trading?
Jaguar8 OP FurShark2972 : yes
72553502 : should I buy some Jaguar?
Kw sucks : worthy to think about what market is doing.
Jaguar8 OP 72553502 : i don’t give buy or sell advice
Kw sucks : if no TFSA limit. i will buy a million share today
Kw sucks : for long term investment, it is a good time to buy a part and see what happened next ( bottom line is you really believe PEV and ability of CEO. it is not a good idea if you try to break even. in last 2 weeks, the only signal i feel is sell. all the chart tells every to leave.they will be quiet for a while and come back anytime. Next monday after annual meeting, if it goes down furthur. all in !
Kw sucks : PEV stock value=50 Tesla Cyber trunks.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")