Receives Nasdaq notice of non-compliance with minimum bid price rule

What did Microvast Holdings, Inc. announce?

Microvast Holdings, Inc. received notice from Nasdaq regarding non-compliance with the minimum $1 bid price rule.

Key details

• Nasdaq notified the company that its common stock's average closing bid price was below $1 for 30 consecutive trading days.
• The company has 180 days to regain compliance with the minimum bid price requirement.
• Non-compliance has no immediate impact on the common stock's listing and trading on Nasdaq.
• The company intends to monitor the bid price and explore options to regain compliance.

Why it matters

This 8-K reports a listing change at Microvast Holdings, Inc.. The likely share-price reaction reads as negative.