Carbon Revolution Announces Receipt of Delisting Determination Letter from Nasdaq

Rhea-AI Summary

Carbon Revolution (Nasdaq: CREV) received a Nasdaq delisting determination after the Nasdaq Hearing Panel denied its request for continued listing under Rule 5550(b) and Rule 5250(c)(1).

Nasdaq will suspend trading effective at the open on February 9, 2026. The company failed to file its Form 20-F for the period ended June 30, 2025 and did not provide required documentation showing ability to complete a strategic transaction by May 5, 2026. A separate notice showed MVPHS was below the $15,000,000 minimum for 30 consecutive business days through February 3, 2026. The company does not intend to appeal.

Positive

• None.

Negative

• Nasdaq denied continued listing under Rule 5550(b) and Rule 5250(c)(1)
• Trading suspension effective February 9, 2026
• Failed to file Form 20-F for period ended June 30, 2025
• Market Value of Publicly Held Shares below $15,000,000 for 30 business days

News Market Reaction

-63.45% 27.0x vol

11 alerts

-63.45% News Effect

-60.0% Trough in 4 hr 19 min

-$4M Valuation Impact

$2M Market Cap

27.0x Rel. Volume

On the day this news was published, CREV declined 63.45%, reflecting a significant negative market reaction. Argus tracked a trough of -60.0% from its starting point during tracking. Our momentum scanner triggered 11 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $2M at that time. Trading volume was exceptionally heavy at 27.0x the daily average, suggesting significant selling pressure.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

MVPHS minimum: $15,000,000 MVPHS deficiency period: 30 consecutive business days Cure period: 180 calendar days +5 more

8 metrics

MVPHS minimum $15,000,000 Nasdaq Listing Rule 5450(b)(1)(C) requirement for continued listing

MVPHS deficiency period 30 consecutive business days From November 13, 2025 to February 3, 2026 below MVPHS minimum

Cure period 180 calendar days Automatic period to regain MVPHS compliance, rendered moot by delisting

Trading suspension date February 9, 2026 Nasdaq suspension of CREV securities at market open

Strategic transaction deadline May 5, 2026 Target date to complete transaction in prior compliance plan

Update deadline to Panel January 30, 2026 Deadline to provide information supporting compliance plan

Reporting period end June 30, 2025 Period for delayed Annual Report on Form 20-F

Share price $1.10 Price before news, equal to 52-week low and far below 52-week high

Market Reality Check

Price: $0.4021 Vol: Volume 26,723 vs 20-day a...

normal vol

$0.4021 Last Close

Volume Volume 26,723 vs 20-day average 19,382 (relative volume 1.38). normal

Technical Price 1.10 is below the 200-day MA at 3.27, reflecting a weak longer-term trend.

Peers on Argus

CREV fell 14.06% while peers were mixed: FRSX -9.28%, WKSP -8%, SYPR -7.83%, GTE...

CREV fell 14.06% while peers were mixed: FRSX -9.28%, WKSP -8%, SYPR -7.83%, GTEC +1.65%, REE -1.33%. The sharp decline appears more company-specific than sector-driven.

Historical Context

2 past events · Latest: Nov 07 (Negative)

Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	Nasdaq delisting notice	Negative	-28.5%	Nasdaq moved to delist shares over equity and late Form 20-F.
Oct 31	Funding and business update	Negative	-3.1%	New funding but EV program cancellations and lowered revenue forecasts disclosed.

Pattern Detected

Repeated Nasdaq non-compliance and liquidity concerns have previously coincided with sharp negative price reactions.

Recent Company History

Recent updates for CREV have centered on Nasdaq listing risk, funding pressures, and weakening demand. On Oct 31, 2025, the company disclosed EV program cancellations, revised revenue forecasts lower, and warned of potential near-term funding needs. On Nov 7, 2025, Nasdaq issued a delisting determination over minimum equity and delayed Form 20-F, triggering a -28.5% reaction. Today’s final delisting decision and trading suspension follow that earlier warning trajectory.

Market Pulse Summary

The stock dropped -63.5% in the session following this news. The decline reflects escalating listing...

Analysis

The stock dropped -63.5% in the session following this news. The decline reflects escalating listing and reporting risks, culminating in Nasdaq’s decision to suspend trading on February 9, 2026. Earlier Nasdaq non-compliance and delisting notices in late 2025 also aligned with negative reactions, including a -28.5% move on a prior delisting determination. The move fits a pattern in which new regulatory setbacks layer onto existing equity and filing deficiencies, increasing uncertainty about trading venue and access to capital.

Key Terms

form 20-f, nasdaq listing rule 5550(b), nasdaq listing rule 5250(c)(1), market value of publicly held shares, +3 more

7 terms

form 20-f regulatory

"failure to file its Annual Report on Form 20-F for the period ended"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

nasdaq listing rule 5550(b) regulatory

"non-compliance with Listing Rule 5550(b), Nasdaq’s minimum shareholders’ equity rule"

A Nasdaq listing rule that requires companies on the Nasdaq Capital Market to keep their share price at or above a minimum level (commonly $1.00 per share) to avoid delisting. It matters to investors because dropping below that threshold can start a formal review that may remove a stock from the exchange, which can reduce trading liquidity, make shares harder to sell, and hurt a company’s ability to raise capital — similar to a store losing its grade and being forced to close or move to a less prominent location.

nasdaq listing rule 5250(c)(1) regulatory

"non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Filing Requirement”)"

Nasdaq Listing Rule 5250(c)(1) requires companies listed on the Nasdaq stock exchange to promptly notify the exchange if their stock price falls below a certain minimum level, known as the "initial listing standards." This rule helps ensure that investors are aware of significant declines in a company's stock value, which could signal financial trouble or increased risk. Essentially, it helps maintain transparency and protect investors by keeping them informed about important changes in a company's stock performance.

market value of publicly held shares financial

"the Company’s Market Value of Publicly Held Shares (“MVPHS”) was below"

The market value of publicly held shares is the total dollar worth of a company’s shares that are available to outside investors, calculated by multiplying the current market price by the number of shares held by the public (the “float”). It matters because it tells investors how much of the company is actually tradable and how the market is pricing that tradable portion—like a price tag on the items on a store shelf, it affects liquidity, volatility and how easy it is to buy or sell a meaningful stake.

nasdaq hearing panel regulatory

"the Nasdaq Hearing Panel (the “Panel”) has decided to deny"

A Nasdaq hearing panel is a group of independent reviewers who decide whether a publicly listed company has broken the exchange’s rules and what penalties, if any, should apply. Think of it like a neighborhood committee that reviews complaints and can impose fines, require fixes, or remove a member; for investors, the panel’s rulings can affect whether a stock keeps trading, faces suspension, or suffers reputational and price impact.

delisting determination regulatory

"delisting determination and resulting suspension from trading."

A delisting determination is a formal decision by a stock exchange or regulator to remove a company’s shares from the official trading list, usually after the company fails to meet rules such as filing reports, maintaining a minimum share price, or staying solvent. It matters to investors because removal reduces or eliminates easy ways to buy or sell the shares, can sharply lower their value, and forces holders to trade in smaller, riskier markets — like having to sell a car at a neighborhood garage sale instead of a busy dealership.

tier 1 oem supplier technical

"the Company), a Tier 1 OEM supplier and the leading global manufacturer"

A tier 1 OEM supplier is a company that makes and delivers parts or complete systems directly to the original equipment manufacturer (the company that assembles and sells the finished product, such as a car maker). Think of it as a main contractor providing critical components on the factory line rather than a small subcontractor; its performance affects production schedules, quality and costs. Investors watch tier 1 suppliers because their contracts, margins and reliability drive steady revenue and signal supply‑chain health or risk.

AI-generated analysis. Not financial advice.

GEELONG, Australia, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Carbon Revolution plc (Nasdaq: CREV) (the “Company”), a Tier 1 OEM supplier and the leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, today announced that it has received a notification letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Nasdaq Hearing Panel (the “Panel”) has decided to deny the Company’s request for continued listing on Nasdaq, based upon the Company’s non-compliance with Listing Rule 5550(b), Nasdaq’s minimum shareholders’ equity rule (the “Equity Rule”) and the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Filing Requirement”) as a result of the Company’s failure to file its Annual Report on Form 20-F for the period ended June 30, 2025, as well as the Company’s inability to include certain information and documentation demonstrating an ability to complete a strategic transaction by May 5, 2026 in its update provided to the Panel by January 30, 2026 in connection with its plan for regaining compliance with the Equity Rule and the Filing Requirement.

The Company does not intend to appeal the Staff’s decision, and as a result Nasdaq will suspend trading in the Company’s securities effective at the open of business on February 9, 2026.

Additionally, on February 3, 2026, the Company received a notification letter (the “MVPHS Letter”) from the Staff indicating that for the last 30 consecutive business days, or from November 13, 2025 to February 3, 2026, the Company’s Market Value of Publicly Held Shares (“MVPHS”) was below the minimum MVPHS ($15,000,000) required for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5450(b)(1)(C). Although such deficiency results in an automatic 180 calendar day period in which to regain compliance, such opportunity to cure is rendered moot by the delisting determination and resulting suspension from trading.

About Carbon Revolution plc

Carbon Revolution plc (Nasdaq: CREV) is the parent of Carbon Revolution Pty Ltd, an early-stage growth company which has successfully innovated, commercialized and industrialized the advanced manufacture of carbon fiber wheels for the global automotive industry. The Company has progressed from single prototypes to designing and manufacturing lightweight wheels for cars and SUVs in the high performance, premium and luxury segments, for the world’s most prestigious automotive brands. Carbon Revolution is creating a significant and sustainable advanced technology business that supplies its lightweight wheel technology to automotive manufacturers around the world.

For more information, visit carbonrev.com

Forward Looking Statements

All statements other than statements of historical facts contained in this communication are forward-looking statements. Forward-looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the listing of Carbon Revolution’s ordinary shares and warrants on Nasdaq. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Carbon Revolution’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from such assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Carbon Revolution.

These forward-looking statements are subject to a number of risks and uncertainties, including (i) the listing of Carbon Revolution’s securities on Nasdaq or any other exchange on which such securities may be listed in the future; (ii) the failure to realize the benefits of being publicly-traded in the United States; (iii) Carbon Revolution’s liquidity, including its ability to pay its obligations and to issue equity, refinance its indebtedness or otherwise obtain financing at all or on acceptable terms, (iv) risks related to its ability to meet financial covenants and other key covenants under existing financing arrangements, (v) changes in domestic and foreign business, market, financial, political and legal conditions; (vi) risks related to the rollout of Carbon Revolution’s business strategy and the timing of expected business milestones; (vii) the effects of competition on Carbon Revolution’s future business and the ability of the combined company to grow and manage growth, establish and maintain relationships with customers and retain its management and key employees; (viii) risks related to domestic and international political and macroeconomic uncertainty including tariffs and trade policy and the Russia-Ukraine and Israel-Hamas and Israel-Hezbollah conflicts; (ix) the outcome of any legal proceedings that may be instituted against Carbon Revolution; (x) the impact of pandemic and governmental responses on any of the foregoing risks; (xi) risks related to Carbon Revolution’s industry; (xii) changes in laws and regulations; and (xiii) those factors discussed in the documents Carbon Revolution filed with the SEC, including the Annual Report on Form 20-F for the financial year ended June 30, 2024.

If any of these risks materialize or Carbon Revolution’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Carbon Revolution does not presently know or that Carbon Revolution currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Carbon Revolution’s expectations, plans or forecasts of future events and views as of the date of this communication. Carbon Revolution anticipates that subsequent events and developments will cause Carbon Revolution’s assessments to change. However, while Carbon Revolution may elect to update these forward-looking statements at some point in the future, Carbon Revolution specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Carbon Revolution’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

For further information, please contact:

Investors
Investors@carbonrev.com

Media
Media@carbonrev.com

FAQ

Why did Nasdaq decide to delist Carbon Revolution (CREV) on February 6, 2026?

Nasdaq denied Carbon Revolution's request due to noncompliance with equity and filing rules. According to the company, it failed to file its Form 20-F for June 30, 2025 and could not show documentation of a strategic transaction by May 5, 2026.

When will trading of Carbon Revolution (CREV) be suspended on Nasdaq?

Nasdaq will suspend trading at the open of business on February 9, 2026. According to the company, this suspension follows the Panel's delisting determination and the company's decision not to appeal.

What is the significance of the MVPHS notice to Carbon Revolution (CREV)?

The MVPHS notice showed public float value below the $15,000,000 minimum for 30 business days. According to the company, that deficiency ran from November 13, 2025 to February 3, 2026, but cure opportunity was moot after the delisting.

Did Carbon Revolution (CREV) plan to appeal Nasdaq's delisting decision?

No, the company does not intend to appeal the Panel's decision. According to the company, it will not pursue an appeal, which leads to the scheduled trading suspension on February 9, 2026.

What compliance steps did Carbon Revolution (CREV) fail to meet for Nasdaq listing?

The company failed to meet Nasdaq's minimum shareholders' equity rule and the filing requirement. According to the company, it did not file the required Form 20-F and lacked documentation to show a completed strategic transaction by the specified date.