View, Inc. Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency
February 16 2023 - 4:15PM
View, Inc. (Nasdaq: VIEW) (“View” or the “Company”) today announced
that on February 13, 2023, the Company received a notice (the
“Notice”) from the Listing Qualifications Staff of The Nasdaq Stock
Market LLC (“Nasdaq”) stating that the Company was not in
compliance with Nasdaq Listing Rule 5450(a)(1) because the bid
price for the Company’s common stock had closed below $1.00 per
share for the previous 30 consecutive business days.
In accordance with Nasdaq listing rule 5810(c)(3)(A), the
Company has 180 calendar days, or until August 14, 2023, to regain
compliance. The Notice states that to regain compliance, the bid
price for the Company’s common stock must close at $1.00 per share
or more (the “Minimum Bid Price”) for a minimum of 10 consecutive
business days during the compliance period ending August 14,
2023.
If the Company has not been deemed in compliance prior to the
expiration of the 180 day compliance period, it may transfer to The
Nasdaq Capital Market, provided that it meets the applicable market
value of publicly held shares requirement for continued listing and
all other applicable requirements for initial listing on The Nasdaq
Capital Market (except for the bid price requirement) based on the
Company’s most recent public filings and market information, and
notifies Nasdaq of its intent to cure this deficiency. Following a
transfer to The Nasdaq Capital Market, the Company would be
afforded the remainder of the applicable compliance period set
forth in Nasdaq Listing Rule 5810(c)(3)(A)(ii), unless it does not
appear to Nasdaq that it is possible for the Company to cure the
deficiency. The Company may also request a hearing to remain on The
Nasdaq Global Market. Any time spent in the hearing process will
not extend the length of the remaining applicable compliance
periods on the Nasdaq Capital Market.
The Notice has no immediate effect on the listing of the
Company’s common stock or warrants, and the Company’s common stock
and warrants continue to trade on The Nasdaq Global Market under
the symbols “VIEW” and “VIEWW”, respectively. However, there can be
no assurance that the Company will be able to regain compliance
with the Minimum Bid Price or maintain compliance with the other
Nasdaq listing standards.
About ViewView is the leader in smart building
technologies that transform buildings to improve human health and
experience, reduce energy consumption and carbon emissions, and
generate additional revenue for building owners. View Smart Windows
use artificial intelligence to automatically adjust in response to
outdoor conditions, eliminating the need for blinds and increasing
access to natural light. Every View installation includes a
cloud-connected smart building platform that can easily be extended
to reimagine the occupant experience. View’s products are installed
in offices, apartments, airports, hotels, and educational
facilities. For more information, please visit: www.view.com.
Forward-Looking StatementsThis press release
and certain materials View files with the U.S. Securities and
Exchange Commission, as well as information included in oral
statements or other written statements made or to be made by View,
other than statements of historical fact, contain certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended. These
forward-looking statements are based on current expectations,
estimates, assumptions, projections, and management’s beliefs, that
are subject to change. There can be no assurance that these
forward-looking statements will be achieved; these statements are
not guarantees of future performance and are subject to certain
risks, uncertainties, and other factors, many of which are beyond
View’s control and are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements. View’s business
is subject to a number of risks which are described more fully in
View’s Annual Report on Form 10-K for the year ended December 31,
2021, and its subsequent Quarterly Reports on Form 10-Q. View
undertakes no obligation to update forward-looking statements to
reflect events or circumstances after the date hereof.
Contacts:
Samuel MeehanView, Inc.IR@View.com(408) 493-1358
View (NASDAQ:VIEWW)
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