Graphjet Technology Discloses Notice from Nasdaq
Graphjet Technology (Nasdaq:GTI), a developer of technologies for producing graphite and graphene from agricultural waste, has received a notice from Nasdaq on June 18, 2025, regarding non-compliance with listing requirements. The company failed to maintain the minimum required bid price of $0.10 per share for the last 10 consecutive trading days.
The matter will be reviewed at a Nasdaq Hearings Panel on July 17, 2025. While this notice serves as an additional basis for potential delisting, it does not immediately affect the company's listing status. Graphjet plans to appeal Nasdaq's decision, which will stay any suspension pending the hearing.
- Company retains right to appeal Nasdaq's decision
- Trading continues uninterrupted pending the hearing
- Company actively working to regain compliance
- Stock price fell below minimum $0.10 requirement for 10 consecutive trading days
- Risk of potential delisting from Nasdaq
- Multiple compliance issues as this serves as an additional basis for delisting
Insights
Graphjet faces Nasdaq delisting risk due to share price falling below $0.10 minimum requirement, with appeal hearing scheduled for July 17.
Graphjet Technology has received a critical notification from Nasdaq regarding non-compliance with Listing Rule 5450(a)(1), which requires listed securities to maintain a minimum bid price of $0.10 per share. This violation was based on the company's closing bid prices over the last 10 consecutive trading days prior to the notice date of June 18, 2025.
This development is particularly concerning as it serves as an additional basis for delisting, suggesting there were already existing compliance issues. The reference to a "previously disclosed hearing" indicates this isn't Graphjet's first brush with listing requirements challenges.
While the notice itself doesn't trigger immediate delisting, it escalates the company's regulatory problems. The scheduled July 17 hearing will be crucial in determining Graphjet's future on the exchange. Historically, companies in similar situations typically attempt to regain compliance through measures like reverse stock splits, but the extremely low price threshold of $0.10 (rather than the standard $1.00) suggests already implemented remedial actions may have been insufficient.
For context, when stocks trade below exchange minimums, they often face diminished institutional investment interest, reduced analyst coverage, and limited access to capital markets. Particularly concerning is the
While management states they are exercising "diligent efforts" to regain compliance, no specific action plan is outlined, leaving substantial uncertainty about remediation strategies.
Innovative technological leader to oversee all technical, operational, customer support and business development initiatives
KUALA LUMPUR, Malaysia, June 24, 2025 (GLOBE NEWSWIRE) -- Graphjet Technology (“Graphjet” or “the Company”) (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, today announced that it received a written notice (“Notice”) on June 18, 2025 from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company no longer complies with Nasdaq Listing Rule 5450(a)(1) (the “Listing Rule”) requiring that listed securities maintain a minimum bid price of
Though there can be no assurance that the Company will regain or maintain compliance with the Listing Rule, the Company is exercising diligent efforts and intends to regain compliance with the Listing Rule.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
About Graphjet Technology
Graphjet Technology (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world’s first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet’s sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit https://www.graphjettech.com/.
Cautionary Statement Regarding Forward-Looking Statements
The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. 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. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet’s industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet’s ability to develop and manufacture its graphene and graphite products; (vii) Graphjet’s ability to return to and maintain compliance with Nasdaq continued listing standards; and (viii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the documents to be filed by Graphjet from time to time with the SEC. 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 while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations.
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