退市警告并不令人意外。纳斯达克在2023年12月28日通知法拉第未来，称其未能符合最低收盘价为1美元的上市规定。法拉第未来被要求在180个日历日(即2024年6月25日之前)内重新遵守该规则。Faraday Future said the company plans to request a hearing before May 1, 2024 to appeal the delisting ruling.
The Zhitong Finance App learned that Faraday Future (FFIE.US) announced that it has received a letter from the NASDAQ Exchange that the company will be removed from the NASDAQ listing because the company did not comply with NASDAQ listing rules. Faraday Future said that the company plans to request a hearing before May 1, 2024 to appeal the delisting ruling. During this period, the company's securities will continue to be listed on the NASDAQ capital market.
The Nasdaq Exchange stated in a letter issued on April 24 that Faraday Future did not meet the requirements of section 5810 of the NASDAQ listing rules because the closing price of the company's securities was $0.10 or less for ten consecutive trading days. As a result, Nasdaq staff decided to remove the company's securities from the Nasdaq capital market.
The delisting warning is no surprise. Nasdaq notified Faraday Future on December 28, 2023, that it failed to comply with the listing requirement of a minimum closing price of $1. Faraday is required to re-comply with this rule within 180 calendar days (i.e. before June 25, 2024) in the future.
Furthermore, on April 18, 2024, Nasdaq notified Faraday Future that due to the company's delay in submitting its 10-K annual report for the fiscal year ending December 31, 2023, the company did not comply with NASDAQ's listing rules.
If Faraday Future fails to appeal the delisting decision before May 1, 2024, trading of the company's common stock will be suspended when the market opens on May 3, 2024, and a 25-NSE form will be submitted to the US Securities and Exchange Commission, which will disqualify Faraday from future listing and registration on the NASDAQ stock market.
Faraday Future said the company is considering all possible options to re-comply with the above rules, including submitting the 2023 10-K Annual Report and the 10-Q Quarterly Report up to March 31, 2024, and seeking shareholder approval for the reverse stock split.
