Ideanomics Announces Receipt of Notice from Nasdaq Regarding Listing Delinquency
July 02 2024 - 5:00PM
Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") today
announced that on June 26, 2024, the Company received a notice from
the staff of the Nasdaq Listing Qualifications department (the
"Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that
because the Company’s Form 10-K for the fiscal year ended December
31, 2023, reported stockholders’ equity of less than the required
minimum of $2,500,000 in stockholders’ equity for continued
listing, and as of that day, the Company did not meet the
alternatives of market value of listed securities or net income
from continuing operations, the Company no longer complied with
Listing Rule 5550(b)(1). Accordingly, this matter serves as an
additional basis for delisting the Company’s securities from The
Nasdaq Stock Market. The Nasdaq Hearings Panel (the “Panel”)
will consider this matter in their decision regarding the Company’s
continued listing on The Nasdaq Capital Market and the Company must
present its views with respect to this additional deficiency to the
Panel in writing no later than July 3, 2024. The Company is
working diligently to regain compliance and will provide an update
once more information is available.
About Ideanomics
Ideanomics (NASDAQ: IDEX) is a global group with a
simple mission: to accelerate the commercial adoption of electric
vehicles. By bringing together vehicles and charging technology
with design, implementation, and financial services, we provide
solutions for the commercial world to commit to
an EV future. To keep up with Ideanomics, please
follow the company on social @ideanomicshq or
visit: https://ideanomics.com.
Safe Harbor Statement
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the expected timing for the
filing of the Form 10-K, the Company's ability to regain compliance
with the Nasdaq requirements for continued listing and
related matters. These forward-looking statements are often
identified by the use of forward-looking terminology such as
"believes," "expects," or similar expressions that involve known
and unknown risks and uncertainties. Any forward-looking statements
contained herein are based on current expectations, but are subject
to risks and uncertainties that could cause actual results to
differ materially from those indicated, including, but not limited
to, risks and uncertainties relating to the failure of the Company
to file the Form 10-K on its expected timeline and other risk
factors discussed from time to time in the Company's filings with
the SEC. These and other factors are identified and described in
more detail in the Company's filings with the SEC, including,
without limitation, the Company's most recent Form 10-K and Form
10-Q. The Company expressly disclaims any intent or obligation to
update these forward-looking statements other than as required by
law.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com
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