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Aeva Technologies, Inc. Regains Compliance with NYSE Continued Listing Standards

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Aeva (AEVA) has regained compliance with the NYSE's minimum price criteria, ensuring continued listing on the exchange. The closing share price for Aeva's common stock and the average closing share price over a 30-day period are now above $1.00, resolving the deficiency.
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The announcement by Aeva regarding its regained compliance with the NYSE's continued listing minimum price criteria is a positive signal to the market and its investors. This development is indicative of a potential turnaround in investor confidence or operational performance. Typically, a stock price falling below the $1 threshold can trigger investor concerns about the company's stability and future prospects. The rebound above this level may suggest that Aeva has taken steps to address the underlying issues that led to the stock's previous decline.

From a market perspective, the restoration of compliance could lead to increased trading volumes as institutional investors and funds that are restricted from holding non-compliant stocks may now re-enter the fray. Moreover, this event can act as a catalyst for the company to introduce new initiatives or capitalize on positive market sentiment to further improve its financial standing and market perception.

Regaining compliance with the NYSE's listing standards is a critical financial milestone for Aeva. It not only prevents potential delisting but also averts the negative financial implications associated with it, such as diminished liquidity and access to capital markets. For a company in the technology sector, where R&D and capital investments are substantial, maintaining a listing on a major exchange is vital for fundraising efforts.

Investors should note, however, that while the share price recovery is a positive development, it is not necessarily indicative of the company's long-term financial health. It is essential to analyze Aeva's financial statements, future earnings guidance and market position within the sensing and perception systems industry to fully understand the implications of this news.

The compliance notice is particularly relevant in the context of the highly competitive and capital-intensive field of next-generation sensing and perception systems. Aeva operates in a market characterized by rapid technological advancements and a high rate of innovation. Maintaining NYSE listing enables Aeva to have better visibility among peers and potential customers, which is important for securing partnerships, customer contracts and staying competitive.

Investors should consider the broader industry trends, such as the adoption rates of autonomous vehicles and advanced driver-assistance systems (ADAS), where Aeva's technology plays a critical role. The company's ability to stay compliant with NYSE standards and its share price performance should be viewed in light of these market dynamics and the company's technological advancements.

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Aeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced that it received notice from the New York Stock Exchange (the "NYSE") on March 21, 2024 that it has successfully regained compliance with continued listing minimum price criteria set forth in Section 802.01C of the NYSE Listed Company Manual. As a result, Aeva will no longer be on the NYSE’s noncompliant issuers list and will continue to be traded on the NYSE.

Aeva previously received notice from the NYSE that it was not in compliance with NYSE’s continued listing minimum price criteria because the average closing price of Aeva’s common shares was below $1.00 over a consecutive 30 trading-day period. On March 21, 2024, the closing share price for Aeva’s common stock and the average closing share price of Aeva’s common stock over the 30 trading-day period ended on the same date were both above $1.00, resolving the deficiency.

About Aeva Technologies, Inc. (NYSE: AEVA)

Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving to industrial robotics, consumer electronics, consumer health, security and beyond. Aeva is transforming autonomy with its groundbreaking sensing and perception technology that integrates all key LiDAR components onto a silicon photonics chip in a compact module. Aeva 4D LiDAR sensors uniquely detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions. For more information, visit www.aeva.com, or connect with us on X or LinkedIn.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.

Forward-looking statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding Aeva’s continued listing on the NYSE and its continued compliance with all applicable NYSE listing standards. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties, including the company’s intention to cure the NYSE deficiency and remain listed. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, but not limited to: (i) the fact that Aeva is an early stage company with a history of operating losses and may never achieve profitability, (ii) Aeva’s limited operating history, (iii) the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities, (iv) the ability for Aeva to have its products selected for inclusion in OEM products, (v) the ability to manufacture at volumes and costs needed for commercial programs, (vi) Aeva’s ability to obtain the required stockholder approvals and (vii) other material risks and other important factors that could affect our financial results. Please refer to our filings with the SEC, including our most recent Form 10-K. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Aeva assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Aeva does not give any assurance that it will achieve its expectations.

Investors:

Andrew Fung

investors@aeva.ai

Media:

Michael Oldenburg

press@aeva.ai

Source: Aeva Technologies, Inc.

FAQ

What notice did Aeva receive from the NYSE on March 21, 2024?

Aeva received notice from the NYSE that it has successfully regained compliance with the continued listing minimum price criteria.

Why was Aeva previously not in compliance with NYSE's listing criteria?

Aeva was not in compliance because the average closing price of Aeva's common shares was below $1.00 over a consecutive 30 trading-day period.

What led to Aeva regaining compliance with NYSE's listing criteria?

The closing share price for Aeva's common stock and the average closing share price over the 30 trading-day period ending on March 21, 2024, were both above $1.00, resolving the deficiency.

Aeva Technologies, Inc.

NYSE:AEVA

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About AEVA

aeva develops a new sensing & perception paradigm for autonomous machines. aeva's technology brings together the best of vision, depth & motion sensors into a single product with superior performance. compared to today's best in class, it provides greater range & resolution across weather conditions and a new dimension to precisely measure velocity of every pixel in the scene.