05/22/2026 | Press release | Distributed by Public on 05/22/2026 14:07
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on November 19, 2025, Envoy Medical, Inc. (the "Company"), received a staff determination notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), informing the Company that its Class A Common Stock, par value $0.0001 per share (the "Common Stock"), had failed to comply with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market (the "Capital Market") under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement") for the 30 consecutive business days prior to the date of the Notice.
The Notice had no immediate effect on the listing of the Common Stock on Capital Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial compliance period of 180 calendar days, or until May 18, 2026 (the "Compliance Date"), to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock was required to meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to the Compliance Date.
On May 19, 2026, the Company received a second staff notification from Nasdaq informing the Company that, although the Company had not met the Bid Price Requirement by the Compliance Date, the Company is eligible for an additional 180 day period, until November 16, 2026, to meet the Bid Price Requirement (the "Second Compliance Period"). Nasdaq's determination that the Company is eligible for a Second Compliance Period was based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for listing on the Capital Market with the exception of the bid price requirement and the Company's written notice to Nasdaq of its intention to cure the deficiency during the Second Compliance Period by effecting a reverse stock split, if necessary.