DelistingMay 7, 2026, 04:03 PM
Smart Powerr Corp. Faces Nasdaq Delisting for Bid Price Rule Violation
AI Summary
Smart Powerr Corp. received a notice from Nasdaq on May 1, 2026, indicating non-compliance with the Bid Price Rule as its common stock traded below $1.00 for 30 consecutive days. Due to a reverse stock split in the prior year, the company is not eligible for a compliance period. Trading of its securities is set to be suspended on May 12, 2026, unless the company appeals the decision. Smart Powerr Corp. intends to request a hearing and take all reasonable measures, including a reverse stock split, to regain compliance and remain listed.
Key Highlights
- Smart Powerr Corp. received a delisting notice from Nasdaq on May 1, 2026.
- The company's common stock traded below $1.00 for 30 consecutive trading days, violating Nasdaq Listing Rule 5550(a)(2).
- Ineligible for a compliance period due to a reverse stock split within the prior year.
- Securities will be suspended from trading on Nasdaq Capital Market on May 12, 2026.
- Company intends to request a hearing before Nasdaq's Hearings Panel by May 8, 2026.
- The company plans to take measures, including a reverse stock split, to regain compliance.