Advent Technologies Receives Notice of Non-Compliance from Nasdaq

Advent Technologies Holdings, Inc. (NASDAQ: ADN) recently disclosed in an 8-K filing that the company received a letter from The Nasdaq Stock Market, LLC, notifying them of non-compliance with listing requirements. The notification was based on the Company’s reported stockholders’ equity of ($2,879,000) as of the end of June 30, 2024, falling below the minimum threshold.

According to Nasdaq’s Listing Rule, companies are required to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. Given the discrepancy, Advent Technologies now has 45 calendar days to submit a plan outlining steps to regain compliance. If the submitted plan is accepted, Nasdaq has the discretion to grant an extension of up to 180 calendar days from the notification date to demonstrate compliance.

Vassilios Gregoriou, Chairman, and Chief Executive Officer of Advent Technologies Holdings, Inc., signed off on the report dated October 23, 2024, confirming the company’s receipt of the non-compliance letter and its commitment to addressing the situation.

Investors and stakeholders in Advent Technologies will be keenly observing the company’s responses and strategies to remedy the non-compliance issue within the stipulated timelines.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Advent Technologies’s 8K filing here.

About Advent Technologies

Advent Technologies Holdings, Inc, an advanced materials and technology development company, operates in the fuel cell and hydrogen technology markets in North America, Europe, and Asia. It develops, manufactures, and assembles fuel cell systems and critical components that determine the performance of hydrogen fuel cells and other energy systems.