10/03/2025 | Press release | Distributed by Public on 10/03/2025 14:16
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported, on April 2, 2025, Abpro Holdings, Inc. (the "Company") received written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it no longer complied with the minimum bid price requirement for continued listing on Nasdaq. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requirement"). The letter stated that the Company had 180 calendar days, or until September 29, 2025, to regain compliance.
On September 30, 2025, the Company received a letter from Nasdaq notifying the Company that it had not regained compliance with the Minimum Bid Price Requirement during the compliance period. Accordingly, unless the Company requests an appeal by October 7, 2025, the Company's common stock will be scheduled for delisting at the opening of business on October 9, 2025.
Accordingly, the Company intends to timely request a hearing before the appeal panel (the "Panel"). The hearing request will stay the suspension of the Company's securities with Nasdaq pending the Panel's decision or any extension of time provided by the Panel to regain compliance. During the hearing, the Company will present its plans to regain compliance with the bid price and all other continued listing requirements. There can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to evidence compliance prior to the expiration of any extension that may be granted by the Panel.