Carbon Revolution Announces Receipt of Non-Compliance Letter from Nasdaq
Carbon Revolution (Nasdaq: CREV) received a Nasdaq Listing Qualifications denial for continued listing due to non-compliance with Listing Rule 5550(b) (minimum shareholders' equity) and failure to file its Form 20-F for the period ended June 30, 2025, violating Rule 5250(c)(1).
Nasdaq will suspend trading effective at the open on November 17, 2025 and intends to file a Form 25-NSE to remove the securities unless the company requests an appeal by November 13, 2025. The company plans to appeal to a Nasdaq hearings panel, seek a stay (which would extend suspension at least until November 28, 2025), and present a compliance plan tied to potential strategic and financing options. The company disclosed uncertainty about its ability to operate as a going concern and gave no assurance of securing financing or retaining its Nasdaq listing.
Carbon Revolution (Nasdaq: CREV) ha ricevuto una negazione della Nasdaq Listing Qualifications per la continuazione della quotazione a causa della non conformità con Listing Rule 5550(b) (patrimonio netto minimo) e del mancato deposito del Form 20-F per il periodo terminante il 30 giugno 2025, violando Rule 5250(c)(1).
La Nasdaq sospenderà la negoziazione all'apertura del 17 novembre 2025 e intende presentare un Form 25-NSE per rimuovere i titoli a meno che la società non richieda un ricorso entro 13 novembre 2025. La società intende ricorrere a una commissione d’appello Nasdaq, richiedere una sospensione (che estenderà la sospensione almeno fino al 28 novembre 2025), e presentare un piano di conformità legato a potenziali opzioni strategiche e di finanziamento. La società ha comunicato l'incertezza sulla propria capacità di operare come going concern e non ha assicurato il reperimento di finanziamenti o il mantenimento della quotazione Nasdaq.
Carbon Revolution (Nasdaq: CREV) recibió una denegación por parte de Nasdaq Listing Qualifications para continuar la cotización debido al incumplimiento de Listing Rule 5550(b) (capital contable mínimo) y al hecho de no presentar su Form 20-F correspondiente al periodo terminado el 30 de junio de 2025, violando Rule 5250(c)(1).
Nasdaq suspenderá la negociación a la apertura del 17 de noviembre de 2025 y tiene la intención de presentar un Form 25-NSE para retirar las valores a menos que la empresa solicite una apelación antes del 13 de noviembre de 2025. La empresa planea apelar ante un panel de audiencias de Nasdaq, buscar una suspensión (que extendería la suspensión al menos hasta el 28 de noviembre de 2025), y presentar un plan de cumplimiento vinculado a posibles opciones estratégicas y de financiamiento. La empresa expresó incertidumbre sobre su capacidad para operar como un negocio en marcha y no brindó garantías de obtener financiamiento o de mantener la cotización en Nasdaq.
Carbon Revolution (나스닥: CREV)은(는) 최소 주주 자본 요건 및 Listing Rule 5550(b) 위반으로 인해 continued listing에 대한 Nasdaq Listing Qualifications의 거부를 받았고, Form 20-F를 2025년 6월 30일 종료 기간에 제출하지 않아 Rule 5250(c)(1)를 위반했습니다.
나스닥은 2025년 11월 17일 개장 시 거래를 중단할 것이며, 회사가 Form 25-NSE를 제출하여 증권을 상장 해제할 예정이며, 회사가 2025년 11월 13일까지 항소를 요청하지 않으면 그렇습니다. 회사는 나스닥 청문위원회에 항소하고, 정지 연장을 통해 최소 2025년 11월 28일까지 연장될 수 있는 가처분 신청을 모색하고, 잠재적 전략적 및 재무 옵션에 연결된 준수 계획을 제시할 계획입니다. 회사는 going concern으로서의 운영 가능성에 대한 불확실성을 공개했고, 재정 조달이나 나스닥 상장 유지에 대한 보장을 제공하지 않았습니다.
Carbon Revolution (Nasdaq: CREV) a reçu un refus de la Nasdaq Listing Qualifications pour le maintien de la cotation en raison du non-respect de Listing Rule 5550(b) (fonds propres minimum) et du fait de ne pas avoir déposé son Form 20-F pour la période se terminant le 30 juin 2025, violant Rule 5250(c)(1).
Nasdaq suspendra les échanges à l'ouverture du 17 novembre 2025 et prévoit de déposer un Form 25-NSE pour retirer les titres, à moins que la société ne demande un appel d'ici le 13 novembre 2025. La société prévoit de faire appel devant une commission d'audition Nasdaq, de demander une suspension (qui prolongerait la suspension au moins jusqu'au 28 novembre 2025) et de présenter un plan de conformité lié à d'éventuelles options stratégiques et de financement. La société a exprimé son incertitude quant à sa capacité à fonctionner comme une entreprise en activité et n'a donné aucune assurance de trouver un financement ou de conserver la cotation Nasdaq.
Carbon Revolution (Nasdaq: CREV) erhielt eine Ablehnung der Nasdaq Listing Qualifications für die Fortführung der Börsennotierung aufgrund der Nichteinhaltung von Listing Rule 5550(b) (Mindestaktienkapital) und der Nichtabgabe des Form 20-F für den Zeitraum bis zum 30. Juni 2025, wodurch Rule 5250(c)(1) verletzt wurde.
Nasdaq wird den Handel zum Börsenstart am 17. November 2025 aussetzen und beabsichtigt, ein Form 25-NSE einzureichen, um die Wertpapiere zu entfernen, sofern das Unternehmen keinen Einspruch bis zum 13. November 2025 beantragt. Das Unternehmen plant, vor einem Nasdaq-Hörensausschuss Berufung einzulegen, eine Aussetzung zu beantragen (die die Aussetzung mindestens bis zum 28. November 2025 verlängern würde) und einen Compliance-Plan vorzulegen, der potenzielle strategische und Finanzierungsmöglichkeiten verbindet. Das Unternehmen gab Ungewissheit über die Fähigkeit bekannt, als Fortführungsunternehmen zu operieren, und machte keine Zusicherung, Finanzierung zu sichern oder die Nasdaq-Notierung beizubehalten.
Carbon Revolution (ناسداك: CREV) تلقّت رفضاً من Nasdaq Listing Qualifications لَاستمرار الإدراج بسبب عدم الامتثال لـ Listing Rule 5550(b) (حقوق المساهمين الدنيا) وعدم تقديمها Form 20-F للفترة المنتهية في 30 يونيو 2025، مما خالف Rule 5250(c)(1).
سوف تؤجل Nasdaq التداول عند الافتتاح في 17 نوفمبر 2025 وتعتزم تقديم Form 25-NSE لإزالة الأوراق المالية ما لم تطلب الشركة استئنافاً قبل 13 نوفمبر 2025. تخطط الشركة للطعن أمام لجنة سماع Nasdaq، وطلب وقف (سيؤدي ذلك إلى تمديد التجميد على الأقل حتى 28 نوفمبر 2025)، وتقديم خطة امتثال مرتبطة بخيارات استراتيجية وتمويل محتملة. أصدرت الشركة إشعاراً بعدم اليقين بشأن قدرتها على الاستمرار كـgoing concern ولم تقدم ضماناً بتمويل أو الاحتفاظ بإدراج Nasdaq.
- Company will request a Nasdaq hearing by November 13, 2025
- Appeal request can stay suspension until at least November 28, 2025
- Company intends to present a compliance plan based on strategic and financing options
- Nasdaq denial for continued listing due to non-compliance with Listing Rule 5550(b)
- Failure to file Form 20-F for period ended June 30, 2025 violating Rule 5250(c)(1)
- Trading suspension effective at open on November 17, 2025 and potential delisting via Form 25-NSE
- Company cites going concern uncertainty preventing the Form 20-F filing
Insights
Nasdaq denied continued listing and set a suspension date due to equity deficiency and missing Form 20-F.
Carbon Revolution received a Nasdaq Letter denying its request for continued listing under Rule 5550(b) for insufficient shareholders’ equity and citing noncompliance with Rule 5250(c)(1) for failing to file its Annual Report on Form 20-F for the period ended
The immediate business mechanism is regulatory: denial rests on quantitative listing metrics (shareholders’ equity) and a filing obligation tied to going-concern uncertainty. The company’s stated path is to appeal to a Nasdaq panel and present a compliance plan tied to strategic and financing options; management explicitly disclaims any assurance of securing those options or of retaining the listing. Watch the company’s appeal filing by
Delisting risk reflects acute liquidity and going-concern issues; financing progress will determine near-term survival.
Carbon Revolution links its inability to file the Form 20-F to uncertainty about its ability to operate as a going concern and says it is exploring strategic and financing options, some of which may be needed earlier than fiscal year-end. The company plans to base its Panel compliance plan on those potential options but provides no firm commitments or timelines.
From a practical perspective, the critical dependencies are (1) obtaining binding financing or strategic commitments that materially improve shareholders’ equity and (2) convincing a Nasdaq Panel to grant an extension or stay. Key items to watch are any executed financing agreements, cash runway disclosures, and the Panel’s decision timeline; expect relevant updates within the current appeal window and immediately if any binding financing is announced.
GEELONG, Australia, Nov. 07, 2025 (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 the Company has received a notification letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Staff 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 Staff’s determination that the compliance plan that the Company submitted to Nasdaq did not provide a definitive plan evidencing the Company’s ability to achieve near-term compliance with the continued listing requirements.
As a result of the Staff’s decision, Nasdaq will suspend trading in the Company’s securities effective at the open of business on November 17, 2025 and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on Nasdaq, unless the Company requests an appeal of this determination by November 13, 2025.
Additionally, since the Company has not yet filed its Annual Report on Form 20-F for the period ended June 30, 2025, the Staff has determined that the Company no longer complies with Nasdaq Listing Rule 5250(c)(1) (the “Filing Requirement”). The Company’s inability to file the Form 20-F relates primarily to uncertainty as to the Company’s ability to operate as a going concern.
The Company intends to appeal this determination to a Nasdaq hearings panel (a “Panel”), at which the Company plans to present a compliance plan to address the deficiencies relating to the Equity Rule and the Filing Requirement and request an extension of time to regain compliance with both deficiencies.
Under Nasdaq rules, the Company’s request for a hearing will stay the suspension until at least November 28, 2025. In the Company’s request for a hearing, the Company intends to request an extended stay until the later of the date of the Panel’s determination or the expiration of any extension period granted by the Panel to regain compliance with both deficiencies.
As previously announced, in order to obtain sufficient liquidity to fund its business and operations, as well as to contribute towards regaining compliance with Nasdaq continued listing requirements, the Company is exploring potential strategic and financing options, a portion of which may need to be obtained significantly earlier than the end of the Company’s fiscal year. The Company expects that the compliance plan that it submits to the Panel for regaining compliance with the Equity Rule and the Filing Requirement will be based upon such potential strategic and financing options. The Company makes no assurances that it will be able to secure any of such strategic or financing options on satisfactory terms, or at all.
The Company can provide no assurance that the review by the Panel will result in a stay of suspension or an extension of the deadline to regain compliance with the deficiencies being granted or the continued listing of its ordinary shares. If the Company’s securities are delisted, there may be a very limited market in which the Company’s shares are traded, the Company’s shareholders may find it difficult to sell their shares of the Company and the trading price of the Company’s securities, if any, may be adversely affected.
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 expectation of continued listing of Carbon Revolution’s ordinary shares and warrants on Nasdaq, the Company’s ability to promptly regain compliance with Nasdaq listing requirements, the future financial performance, business strategies, financings and expectations for the Company’s business. 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 ability to regain compliance with the continued listing requirements and maintain 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 listed on a U.S. securities exchange and 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
What did Carbon Revolution (CREV) say Nasdaq cited in the non-compliance letter dated November 7, 2025?
When will Nasdaq suspend trading in Carbon Revolution (CREV) shares if no appeal is filed?
How can Carbon Revolution (CREV) prevent immediate delisting after the Nasdaq notice?
Why has Carbon Revolution (CREV) not filed its Form 20-F for the fiscal year ended June 30, 2025?
What remedies is Carbon Revolution (CREV) pursuing after receiving the Nasdaq denial?
What risks did Carbon Revolution (CREV) warn shareholders about if delisted from Nasdaq?
