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Volta Inc. (NYSE: VLTA, VLTA WS) has received notice from the NYSE for non-compliance with listing standards due to its Class A Common Stock averaging below $1.00 for 30 consecutive trading days. The company can regain compliance within six months if the stock closes above $1.00 for a sufficient period. Volta aims to notify the NYSE of its intention to cure this deficiency by December 8, 2022, and may pursue a reverse stock split subject to shareholder approval at the next annual meeting. The stock will remain listed during this correction period.
Volta reported a strong third quarter, with revenue increasing 69% year-over-year to $14.4 million. Notably, media revenue reached a record $12.2 million, reflecting a 66% year-over-year increase. The network of installed charging stalls grew by 173 to 3,093 stalls, marking a 45% rise year-over-year. Volta significantly reduced SG&A expenses by 43%, with a 54% cut in U.S. headcount. The company continues to align with federal initiatives to deploy EV infrastructure and expand its digital advertising business, leveraging its extensive media network.
Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) will participate in two upcoming investor conferences. The company, specializing in next-generation robotics to enhance surgical procedures, will host a virtual fireside chat at the 5th Annual Evercore ISI HealthCONx Conference on November 29 at 3:05 p.m. ET, followed by another chat at the 34th Annual Piper Sandler Healthcare Conference on November 30 at 1:00 p.m. ET. Interested investors can access the presentations live or archived via the company's website.
Sky Harbour Group Corporation (NYSE American: SKYH, SKYH WS) announced its financial results for the quarter ended September 30, 2022. The company reported substantial progress in its hangar construction projects, notably the Nashville International Phase II, with operations commencing soon. Additionally, the BNA Phase II project reached substantial completion, with an expected slight reduction in total construction costs. Sky Harbour has a Common Stock Purchase Agreement allowing the potential sale of up to 10 million shares at a 3% discount to the average price over three years.
Quanergy Systems intends to appeal a delisting decision by NYSE Regulation, announced on November 8, 2022, after failing to maintain a $15 million market capitalization. The trading of their common stock (QNGY) and warrants (QNGYW) was suspended following this decision. Quanergy aims to present its case to the NYSE Board Committee, emphasizing its mission to provide affordable smart LiDAR solutions across diverse sectors. The company has a global customer base of about 400 clients, showcasing its market relevance.
Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) announces that its robotic system has been included in TIME's Best Inventions of 2022, recognized for its innovative design. The system utilizes one camera and two multi-jointed arms for minimally invasive surgeries, demonstrating a full replication of the surgeon's movements. The company completed its Beta 2 system design earlier this year and plans to showcase it on December 6, 2022. The technology has received FDA Breakthrough Device Designation, aiming to enhance surgical efficiency while reducing healthcare costs.
Quanergy Systems, a provider of LiDAR sensors and smart 3D solutions, announced that NYSE Regulation will delist its common stock (NYSE:QNGY) and warrants (NYSE:QNGY WS) due to failing to maintain a minimum average global market capitalization of $15 million over 30 trading days. Trading will be suspended after market close on November 8, 2022, with OTC trading expected to begin on November 9, 2022. The Company does not plan to appeal the delisting decision.
Energy Vault Holdings (NYSE: NRGV, NRGV WS) has appointed
The transition aims to strengthen the finance function as the company embarks on multi-GW hour deployments of its energy storage solutions.
Vicarious Surgical (NYSE: RBOT, RBOT WS) announced its financial results for Q3 2022, reporting a significant increase in operating expenses to $22.2 million, up 159% from $8.6 million the previous year. R&D expenses rose to $12.1 million, while adjusted net loss was $21.7 million, or $0.18 per share, compared to a loss of $8.6 million, or $0.09 per share, in Q3 2021. The GAAP net loss was $24.7 million, down from $45.1 million year-over-year. The company ended the quarter with $126.8 million in cash and equivalents, maintaining a cash burn rate of $14.5 million.
Energy Vault Holdings (NYSE: NRGV, NRGV WS) will announce its third-quarter earnings results for the period ending September 30, 2022, on November 14, 2022, followed by a conference call at 4:30 PM ET. Participants can join the call via phone or through a live webcast. The earnings call replay will be available until November 28, 2022. Energy Vault specializes in sustainable energy storage solutions, aiming to lower energy costs and boost reliability while supporting the transition to a circular economy.