Movella Announces Nasdaq's Planned Suspension of Trading of Securities
Movella Announces Nasdaq's Planned Suspension of Trading of Securities
HENDERSON, Nev., March 26, 2024 (GLOBE NEWSWIRE) -- Movella Holdings Inc. (NASDAQ: MVLA) ("Movella" or the "Company"), a leading full-stack provider of sensors, software, and analytics that enable the digitization of movement, announced today that it was notified by the Nasdaq Stock Market LLC ("Nasdaq") of the timing of Nasdaq's planned suspension of trading of the Company's securities.
內華達州亨德森,2024年3月26日(GLOBE NEWSWIRE)——能夠實現運動數字化的傳感器、軟件和分析的領先全棧提供商莫維拉控股公司(納斯達克股票代碼:MVLA)(“Movella” 或 “公司”)今天宣佈,納斯達克股票市場有限責任公司(“納斯達克股票代碼:Movella” 或 “公司”)今天宣佈,納斯達克股票市場有限責任公司(“納斯達克股票代碼:Movella” 或 “公司”)今天宣佈,納斯達克股票市場有限責任公司(“納斯達克股票代碼:Movella” 或 “公司”)已通知納斯達克公司計劃暫停交易的時間安排的證券。
As previously disclosed in its Current Report filed on Form 8-K with the Securities and Exchange Commission (the "SEC") on March 20, 2024 (the "8-K"), the Company notified Nasdaq of the Company's decision to voluntarily delist its shares of common stock, par value $0.00001 per share (the "Common Stock") and its warrants exercisable for one share of Common Stock at an exercise price of $11.50 (the "Warrants" and together with the Common Stock, the "Securities") from the Nasdaq Global Market. As disclosed in the 8-K, the Company had expected that the last trading day of the Securities on the Nasdaq Global Market would be on or about April 11, 2024. On March 22, 2024, however, Nasdaq notified the Company that trading of its Securities would be suspended after the Company files a Form 25 with the SEC on April 1, 2024, resulting in the last trading day for the Securities occurring on or about April 1, 2024 instead of on or about April 11, 2024, as previously thought.
正如先前在2024年3月20日通過8-K表格向美國證券交易委員會(“SEC”)提交的當前報告(“8-K”)中披露的那樣,該公司通知納斯達克,公司決定自願退市其面值爲每股0.00001美元的普通股(“普通股”),其認股權證可行使價爲11.50美元的一股普通股(“認股權證”)” 以及來自納斯達克全球市場的普通股(“證券”)。正如8-K所披露的那樣,該公司曾預計納斯達克全球市場證券的最後一個交易日將在2024年4月11日左右。但是,納斯達克於2024年3月22日通知該公司,在公司於2024年4月1日向美國證券交易委員會提交25號表格後,其證券交易將暫停,這導致證券的最後交易日發生在2024年4月1日左右,而不是先前想象的2024年4月11日左右。
The Securities will remain listed on Nasdaq while trading is suspended until the effectiveness of the Form 25 filing on or about April 11, 2024, after which time the Securities will be delisted from Nasdaq.
證券將繼續在納斯達克上市,同時暫停交易,直至2024年4月11日左右提交的25號表格生效,之後該證券將從納斯達克退市。
Following the delisting of Movella's Securities from trading on Nasdaq, any trading in the Securities would only occur in privately negotiated sales and potentially on an over‐the‐counter market. Movella expects to have its Securities quoted on a market operated by OTC Markets Group Inc. (the "OTC") on April 12th so that a trading market may continue to exist for the Securities. There is no guarantee, however, that a broker will continue to make a market in the Securities or that trading thereof will continue on an OTC market or otherwise.
在Movella的證券從納斯達克退市交易後,該證券的任何交易都將僅以私下協商的形式進行,並可能在場外交易市場上進行。Movella預計將於4月12日在場外市場集團有限公司(“場外交易所”)運營的市場上市第四 這樣證券的交易市場就可以繼續存在。但是,無法保證經紀商會繼續開設證券市場,也無法保證其交易將繼續在場外交易市場或其他市場上進行。
As previously disclosed, Movella's Board of Directors (the "Board") considered whether the Company could regain compliance in the given timeframe but decided that attempting to regain compliance was not in the best interest of the Company and its stockholders. The Board made this decision following its review and careful consideration of a number of factors, including, but not limited to, the Company's current and likely future inability to comply with the continued listing requirements of the Nasdaq Global Market and the personnel resources and high costs of meeting Nasdaq Global Market disclosure and reporting requirements and related regulatory burdens, costs that have resulted and would continue to result in significant operating expense. In light of these factors, the Board determined that it is in the Company's best interests that the Company redeploy these resources toward adequately funding the Company's operations in the future.
正如先前披露的那樣,Movella董事會(“董事會”)考慮了公司是否可以在給定的時間範圍內恢復合規,但認爲試圖恢復合規性不符合公司及其股東的最大利益。董事會在審查並仔細考慮了許多因素後做出這一決定,包括但不限於公司當前和未來可能無法遵守納斯達克全球市場的持續上市要求以及滿足納斯達克全球市場披露和報告要求的人力資源和高昂成本以及相關的監管負擔,這些成本已經並將繼續導致巨額運營支出。鑑於這些因素,董事會認爲,公司重新部署這些資源爲公司未來的運營提供充足的資金符合公司的最大利益。
About Movella Holdings Inc.
關於 Movella Holdings Inc
Movella is a leading full-stack provider of sensors, software, and AI analytics that transforms movement data into lifelike animations and valuable, actionable insights. Our motion capture technology enables a wide array of innovative solutions in end markets including entertainment and gaming, health and sports, and automation and mobility. We bring meaning to movement for some of the most esteemed global brands including Electronic Arts, EPIC Games, 20th Century Studios, Netflix, BMW, Toyota, and Siemens. To learn more, please visit .
Movella 是傳感器、軟件和人工智能分析的領先全棧提供商,可將運動數據轉換爲逼真的動畫和有價值的、可操作的見解。我們的動作捕捉技術爲終端市場提供了廣泛的創新解決方案,包括娛樂和遊戲、健康和體育以及自動化和出行。我們爲一些最受尊敬的全球品牌賦予運動意義,包括藝電、EPIC Games、二十世紀工作室、Netflix、寶馬、豐田和西門子。要了解更多信息,請訪問。
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Private Securities Litigation Reform Act of 1995. These statements reflect the beliefs and assumptions of Movella's management as of the date hereof. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," variations of such words, and similar expressions are intended to identify forward-looking statements. These Forward Looking Statements include, but are not limited to: the trading price and volatility of Movella's securities, the effects of the expected delisting from Nasdaq, the impact and timing of actions by Nasdaq or OTC Markets, including the suspension of trading of the Securities. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Movella's actual results could differ materially and adversely from those expressed in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, those risk factors contained in Movella's SEC filings, including without limitation, Movella's annual report on Form 10-K, quarterly reports on Form 10-Q and subsequent filings made by Movella with the SEC. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Except as required by law, Movella undertakes no obligation to update or revise any forward-looking statements.
本新聞稿包含有關未來事件和我們未來業績的前瞻性陳述,這些陳述受根據1995年《私人證券訴訟改革法》建立的安全港的約束。這些陳述反映了截至本文發佈之日Movella管理層的信念和假設。諸如 “預期”、“相信”、“繼續”、“可以”、“估計”、“期望”、“預測”、“目標”、“打算”、“可能”、“計劃”、“項目”、“尋求”、“應該”、“目標”、“將” 等詞語以及類似的表述旨在識別前瞻性陳述。這些前瞻性陳述包括但不限於:Movella證券的交易價格和波動性、預期從納斯達克退市的影響、納斯達克或場外交易市場採取行動的影響和時機,包括暫停證券交易。請讀者注意,這些前瞻性陳述只是預測,受難以預測的風險、不確定性和假設的影響。Movella的實際業績可能與前瞻性陳述中表達或設想的業績存在重大不利差異。可能導致實際業績差異的因素包括但不限於Movella向美國證券交易委員會提交的文件中包含的風險因素,包括但不限於Movella的10-K表年度報告、10-Q表的季度報告以及Movella隨後向美國證券交易委員會提交的文件。提醒讀者不要過分依賴任何前瞻性陳述,這些陳述僅代表發表之日。除非法律要求,否則Movella沒有義務更新或修改任何前瞻性陳述。
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