Advent Technologies Holdings Receives Nasdaq Notice on Late Filing of its Form 10-K

Rhea-AI Summary

Advent Technologies Holdings (NASDAQ: ADN) has received a notice from Nasdaq on April 16, 2025, regarding non-compliance with listing requirements due to the delayed filing of its 2024 Annual Report (Form 10-K). The notice has no immediate impact on the company's stock listing or trading.

The company has been granted 60 calendar days until June 16, 2025, to submit a compliance plan to Nasdaq. If accepted, Advent may receive an extension until October 13, 2025, to regain compliance. The company plans to submit its compliance plan by April 30, 2025, and aims to file the delayed 2024 10-K report by the same date.

Positive

• No immediate impact on stock listing or trading status
• Granted 60-day period to submit compliance plan
• Potential extension until October 13, 2025, if plan is accepted

Negative

• Failed to file 2024 Annual Report by March 31, 2025 deadline
• Non-compliance with Nasdaq listing requirements
• Risk of potential delisting if compliance is not achieved

LIVERMORE, Calif., April 16, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: ADN). Advent Technologies Holdings, Inc. announced today that, as expected, it received a notice from Nasdaq on April 16, 2025, notifying the Company that it is not in compliance with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (“Fiscal Year 2024 10-K”) was not filed with the Securities and Exchange Commission (the “SEC”) by the required due date of March 31, 2025.

This Notice received from Nasdaq has no immediate effect on the listing or trading of the Company's shares. Nasdaq has provided the Company with 60 calendar days, until Sunday, June 16, 2025, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company an exception until October 13, 2025, as instructed by the Letter, to regain compliance with the Nasdaq Listing Rules.

The Company expects and intends to submit to Nasdaq the compliance plan by April 30, 2025. The Company continues to work diligently to complete its Fiscal Year 2024 10-K and continues to target filing its Fiscal Year 2024 10-K with the SEC by April 30, 2025, with subsequent periodic filings made on-time, after which the Company anticipates maintaining compliance with its SEC reporting obligations.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Livermore, CA, with offices in Athens, Patras and Kozani Greece. With approximately 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on August 13, 2024, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
press@advent.energy

FAQ

What are the implications of Nasdaq's notice to Advent Technologies (ADN) for non-compliance?

The notice has no immediate effect on ADN's stock listing or trading. The company has until June 16, 2025, to submit a compliance plan and may receive an extension until October 13, 2025, to regain compliance.

When will Advent Technologies (ADN) file its delayed 2024 Annual Report?

Advent Technologies plans to file its Fiscal Year 2024 10-K report with the SEC by April 30, 2025.

What is the deadline for ADN to submit its compliance plan to Nasdaq?

ADN must submit its compliance plan to Nasdaq by June 16, 2025, within the 60-day period granted by Nasdaq.

Could Advent Technologies (ADN) face delisting from Nasdaq due to late filing?

While non-compliance could lead to delisting, Nasdaq has provided ADN an opportunity to submit a compliance plan and may grant an extension until October 13, 2025, to regain compliance.