Ascent Solar Technologies Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits
UNITED STATES
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): June 14, 2024 (
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
As previously disclosed, on December 11, 2023, Ascent Solar Technologies, Inc. (the “Company”) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). In accordance with the Nasdaq Listing Rules, the Company was granted a grace period of 180 calendar days, through June 10, 2024, to regain compliance with the Bid Price Requirement.
The Company did not evidence compliance with the Bid Price Requirement by June 10, 2024 and was not eligible for a second grace period under the Nasdaq Listing Rules. Accordingly, on June 11, 2024, the Company received formal notice from Nasdaq that the deficiency could serve as an additional basis for delisting.
At a hearing before the Nasdaq Hearings Panel on May 9, 2024, the Company addressed its plan to evidence compliance with both (i) the Nasdaq stockholders equity continued listing requirement (the “Equity Requirement”), and (ii) the Bid Price Requirement.
By decision dated June 5, 2024, the Panel granted the Company’s request for continued listing on Nasdaq subject to the Company demonstrating compliance with all applicable criteria for continued listing on The Nasdaq Capital Market by August 22, 2024.
The Company intends to monitor the closing bid price of its common stock and is considering its options to regain compliance with the Bid Price Requirement on or before August 22, 2024.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits | ||
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Exhibit Number |
Description | ||
| 104 | Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ASCENT SOLAR TECHNOLOGIES, INC. | ||||||||
| June 14, 2024 | By: | /s/ Jin Jo | ||||||
| Name: Jin Jo | ||||||||
| Title: Chief Financial Officer | ||||||||