noco-noco Inc to Appeal Nasdaq Delisting Determination
noco-noco Inc, a battery technology company, announced receiving a delisting determination from Nasdaq's Hearings Panel on November 22, 2024. The company's securities will be suspended from trading on November 25, 2024, due to non-compliance with continued listing requirements. noco-noco plans to appeal the decision to the Nasdaq Listing and Hearing Review Council within the 15-day appeal period, though this won't automatically stay the suspension. The company states the delisting will not materially impact operations and maintains its focus on performance growth.
noco-noco Inc, un'azienda nel settore della tecnologia delle batterie, ha annunciato di aver ricevuto una determinazione di delisting dal Panello di Udienza del Nasdaq il 22 novembre 2024. I titoli dell'azienda saranno sospesi dalla negoziazione il 25 novembre 2024, a causa della non conformità ai requisiti di quotazione continuativi. noco-noco prevede di presentare appello contro la decisione al Consiglio di Revisione delle Quotazioni e delle Udienze del Nasdaq entro il periodo di appello di 15 giorni, anche se questo non sospenderà automaticamente la sospensione. L'azienda afferma che il delisting non influisce materialmente sulle operazioni e mantiene il focus sulla crescita delle performance.
noco-noco Inc, una empresa de tecnología de baterías, anunció que recibió una determinación de suspensión de Nasdaq en el panel de audiencias el 22 de noviembre de 2024. Los valores de la empresa serán suspendidos de negociación el 25 de noviembre de 2024, debido a la no conformidad con los requisitos de listado continuos. noco-noco planea apelar la decisión ante el Consejo de Revisión de Listados y Audiencias del Nasdaq dentro del período de apelación de 15 días, aunque esto no suspenderá automáticamente la suspensión. La empresa afirma que el delisting no impactará materialmente sus operaciones y mantiene su enfoque en el crecimiento del rendimiento.
noco-noco Inc는 배터리 기술 기업으로서 2024년 11월 22일 나스닥 청문패널로부터 상장 폐지 통지를 받았다고 발표했습니다. 회사의 유가는 2024년 11월 25일부터 거래가 중단됩니다. 이는 지속적인 상장 요구 사항을 준수하지 않았기 때문입니다. noco-noco는 15일의 항소 기간 내에 나스닥 상장 및 청문회 재검토 위원회에 결정에 대해 항소할 계획이지만, 이는 자동으로 중단되지 않습니다. 회사는 상장 폐지가 운영에 실질적인 영향을 미치지 않을 것이라고 밝히며 성과 성장에 집중할 것이라고 전했습니다.
noco-noco Inc, une entreprise de technologie des batteries, a annoncé avoir reçu une décision de radiation du panel d'audience de la Nasdaq le 22 novembre 2024. Les valeurs mobilières de l'entreprise seront suspendues de négociation le 25 novembre 2024 en raison de non-conformité aux exigences de cotation continue. noco-noco prévoit de faire appel de cette décision devant le Conseil de révision des cotations et des audiences de la Nasdaq dans un délai de 15 jours, bien que cela ne suspendra pas automatiquement la décision. L'entreprise affirme que la radiation n'aura pas d'impact matériel sur ses opérations et maintient son attention sur la croissance des performances.
noco-noco Inc, ein Unternehmen für Batterietechnologie, gab bekannt, dass es am 22. November 2024 eine Entscheidung zur Delisting vom Hearings Panel der Nasdaq erhalten hat. Die Wertpapiere des Unternehmens werden am 25. November 2024 vom Handel ausgeschlossen, da die fortlaufenden Zulassungsanforderungen nicht erfüllt wurden. noco-noco plant, innerhalb der 15-tägigen Berufungsfrist gegen die Entscheidung beim Nasdaq Listing and Hearing Review Council Berufung einzulegen, obwohl dies die Suspendierung nicht automatisch aufschiebt. Das Unternehmen erklärt, dass das Delisting keine wesentlichen Auswirkungen auf die Aktivitäten haben wird und konzentriert sich weiterhin auf das Wachstum der Leistung.
- None.
- Received Nasdaq delisting determination due to listing requirements non-compliance
- Trading suspension effective November 25, 2024
- Appeal won't prevent immediate trading suspension
Insights
The Nasdaq delisting determination represents a significant setback for noco-noco, as it could substantially impact the stock's liquidity and institutional investor access. The trading suspension effective November 25, 2024, coupled with potential delisting, typically triggers forced selling by index funds and institutional investors with mandate restrictions. While the company plans to appeal within the 15-day window, historical precedent suggests low success rates for such appeals without substantial changes in compliance status.
The company's statement about "no material impact on operations" warrants skepticism, as delisting often affects a company's ability to raise capital, maintain business relationships and attract investors. Small-cap companies like noco-noco, with a market cap of just
Singapore, Nov. 25, 2024 (GLOBE NEWSWIRE) --
SINGAPORE, November 25, 2024 — noco-noco Inc. (“noco-noco” or the “Company”), a next-generation battery technology innovator, today announced that, on November 22, 2024 Singapore Time, it has received a determination letter from The Nasdaq Stock Market’s Hearings Panel (the “Panel”) notifying the Company of its decision to delist noco-noco’s securities due to non-compliance with Nasdaq’s continued listing requirements. The Panel determined that the Company’s securities will be suspended from trading on Nasdaq at the open of business on November 25, 2024.
The Company intends to appeal the Panel’s decision to the Nasdaq Listing and Hearing Review Council (the “Listing Council”) within the applicable 15-day appeal period. While the initiation of the appeal will not automatically stay the suspension, the Company is taking concrete measures to regain compliance with Nasdaq’s listing requirements.
Impact on Operations
The delisting notice will have no material impact on the Company’s operations, and noco-noco will continue to focus on driving performance growth and operational efficiency. The Company remains committed to creating value for shareholders and strengthening its position as a leader in next-generation energy storage technology.
About noco-noco:
noco-noco Inc. (Nasdaq NCNC) is a technology solutions provider in the energy transition sector working to accelerate the global transformation to a decarbonized economy. Building its business on X-SEPA™ — the revolutionary battery separator technology developed in Japan and designed for long-lasting and high heat-resistant performance— noco-noco addresses the need for clean, affordable, and sustainable energy storage solutions.
Read more about noco-noco:
https://noco-noco.com/
Safe Harbor Statement:
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When noco-noco Inc. (the “Company”) uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; and the international markets the Company serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
FAQ
Why is NCNC stock being delisted from Nasdaq?
When will NCNC stock be suspended from trading on Nasdaq?
What actions is NCNC taking regarding the Nasdaq delisting?
