Vivopower Receives Notification of Recompliance with Nasdaq’s Minimum Bid Price Rule

Rhea-AI Summary

VivoPower International PLC (VVPR) has successfully regained compliance with Nasdaq's Listing Rule 5550(a)(2) on December 10, 2024. The company received official notification from Nasdaq's Listing Qualifications Department confirming that its common stock maintained a minimum bid closing price of $1.00 per share or greater for 10 consecutive business days, meeting the exchange's minimum bid price requirement.

Positive

• Regained Nasdaq listing compliance, eliminating immediate delisting risk
• Stock price maintained above $1.00 for 10 consecutive trading days

Negative

• None.

News Market Reaction

-1.65%

1 alert

-1.65% News Effect

On the day this news was published, VVPR declined 1.65%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

LONDON, Dec. 11, 2024 (GLOBE NEWSWIRE) -- On December 10, 2024, VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company’s common stock has maintained a minimum bid closing price of $1.00 per share or greater for 10 consecutive business days. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2).

About VivoPower 

Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. VivoPower’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.

Forward-Looking Statements

This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.

Contact 
Shareholder Enquiries 
shareholders@vivopower.com 

FAQ

What Nasdaq compliance rule did VivoPower (VVPR) regain compliance with in December 2024?

VivoPower regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires maintaining a minimum bid closing price of $1.00 per share for at least 10 consecutive business days.

When did VivoPower (VVPR) receive confirmation of Nasdaq compliance?

VivoPower received confirmation of Nasdaq compliance on December 10, 2024, through a letter from the Nasdaq Listing Qualifications Department.

What was the minimum stock price VivoPower (VVPR) needed to maintain for Nasdaq compliance?

VivoPower needed to maintain a minimum bid closing price of $1.00 per share or greater for 10 consecutive business days to regain Nasdaq compliance.

What does regaining Nasdaq compliance mean for VivoPower (VVPR) shareholders?

Regaining Nasdaq compliance means VivoPower has eliminated the immediate risk of delisting, allowing the stock to continue trading on the Nasdaq exchange.