LOBO Announces Receipt of Nasdaq Minimum Bid Price Notification

Rhea-AI Summary

LOBO EV Technologies (NASDAQ: LOBO) has received a notification from Nasdaq on May 13, 2025, indicating non-compliance with the minimum bid price requirement. The company's shares traded below $1.00 for 33 consecutive business days from March 26 to May 12, 2025. LOBO has been granted a 180-day compliance period until November 10, 2025 to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

If unsuccessful, LOBO may be eligible for an additional 180-day extension, provided it meets other Nasdaq Capital Market listing requirements. The company must demonstrate its intention to resolve the deficiency, potentially through a reverse stock split. Currently, this notice has no immediate impact on LOBO's Nasdaq listing or share trading.

Positive

• None.

Negative

• Stock trading below $1.00 for 33 consecutive business days
• Risk of delisting if compliance is not achieved by November 10, 2025
• Potential need for reverse stock split which could affect share structure

News Market Reaction

+10.28%

1 alert

+10.28% News Effect

On the day this news was published, LOBO gained 10.28%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WUXI, China, May 16, 2025 (GLOBE NEWSWIRE) -- LOBO EV TECHNOLOGIES LTD. (NASDAQ: LOBO) (“LOBO” or the “Company”) today announced that it received a notification letter dated May 13, 2025 from the Nasdaq Stock Market LLC (“Nasdaq”), indicating that the Company is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market.

According to the letter, the closing bid price of the Company’s ordinary shares was below $1.00 per share for 33 consecutive business days, from March 26, 2025 to May 12, 2025.

The notice has no immediate effect on the Company’s listing or the trading of its ordinary shares on Nasdaq. Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has a 180-calendar-day compliance period, or until November 10, 2025, to regain compliance. If at any time during this period the closing bid price of the Company’s ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation that the Company has regained compliance with the bid price requirement.

If the Company does not regain compliance by the end of the initial compliance period, it may be eligible for an additional 180-calendar-day extension, subject to meeting the continued listing standards for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market (excluding the bid price requirement). In that case, the Company must also provide written notice of its intention to cure the deficiency, including through a potential reverse stock split if necessary.

The Company intends to monitor the closing bid price of its ordinary shares and will consider all available options to regain compliance within the applicable grace periods.

About LOBO EV Technologies Ltd.

LOBO EV Technologies Ltd. (Nasdaq: LOBO) is an innovative designer, developer, manufacturer, and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles. The Company also specializes in AI-powered multimedia interactive systems and is expanding into medical technology manufacturing. By leveraging cutting-edge AI, connectivity, and automation, LOBO aims to provide intelligent, efficient, and secure mobility and healthcare solutions.

For more information, visit: https://www.loboebike.com and https://loboev.io.

Safe Harbor Statement

This press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ due to regulatory approvals, market conditions, and other factors detailed in the Company’s filings with the U.S. Securities and Exchange Commission (SEC). LOBO undertakes no obligation to update these forward-looking statements unless required by law.

For Investor and Media Inquiries, Please Contact:
HORIZON IR
Michael Wei
Email: hwey@horizonconsultancy.co

FAQ

Why did LOBO (NASDAQ: LOBO) receive a Nasdaq deficiency notice?

LOBO received a Nasdaq deficiency notice because its stock price traded below $1.00 for 33 consecutive business days from March 26 to May 12, 2025, violating Nasdaq's minimum bid price requirement.

What is the deadline for LOBO to regain Nasdaq compliance?

LOBO has until November 10, 2025 (180 calendar days) to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

What happens if LOBO fails to meet the November 2025 deadline?

If LOBO fails to meet the November 2025 deadline, it may be eligible for an additional 180-day extension if it meets other Nasdaq Capital Market listing requirements and provides a plan to cure the deficiency.

Will LOBO be immediately delisted from Nasdaq?

No, the notification has no immediate effect on LOBO's Nasdaq listing or trading status. The company has until November 10, 2025, to regain compliance.

What options does LOBO have to regain Nasdaq compliance?

LOBO can regain compliance by achieving a $1.00 minimum bid price for 10 consecutive days, and may consider options including a reverse stock split if necessary.