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Advent Technologies Holdings (Nasdaq: ADN) announced that it received a Nasdaq notice on May 24, 2024, for failing to file its Form 10-Q for Q1 2024 by the May 10 deadline. This notice has no immediate effect on the company's listing or trading. Advent has until June 17, 2024, to submit a plan to regain compliance. If approved, they have until October 14, 2024, to comply with Nasdaq rules. The company is working to file the report promptly and expects to maintain future compliance. Advent develops and manufactures fuel cell systems and components, holding over 150 patents in the renewable energy sector.
Advent Technologies Holdings, Inc. announced a 1-for-30 reverse stock split of its common stock, effective May 13, 2024, to meet Nasdaq's minimum bid price requirement. The split will reduce outstanding shares from 77.6 million to 2.6 million, with no fractional shares issued. Stockholders will receive a proportional cash payment for any fractional shares. This move aims to make the stock more appealing to investors.
Advent Technologies Holdings, Inc. (Nasdaq: ADN) approved a 1-for-30 reverse stock split to comply with Nasdaq's $1.00 per share minimum bid price requirement. The split will reduce outstanding shares from 77.6 million to 2.6 million, with no fractional shares issued. The Company aims to make its stock more appealing to investors and continue trading on the Nasdaq Capital Market.