GreenPower Announces Receipt of Determination Letter from Nasdaq
GreenPower Motor Company (NASDAQ: GP) has received a determination letter from Nasdaq Listing Qualifications indicating potential delisting from The Nasdaq Capital Market. The company failed to maintain compliance with two key requirements: the minimum bid price of US$1 per share and the US$5,000,000 minimum stockholders' equity requirement.
The company's shares could be suspended from trading on Nasdaq by September 5, 2025, unless GreenPower successfully appeals the determination by September 3, 2025. GreenPower intends to request a hearing before the Nasdaq Hearings Panel, which will temporarily stay the suspension pending the Panel's decision. If delisted, the company's shares would continue trading on the TSX Venture Exchange and likely move to the OTC Markets Group in the United States.
GreenPower Motor Company (NASDAQ: GP) ha ricevuto una lettera di determinazione da Nasdaq Listing Qualifications che segnala una possibile esclusione dalla Nasdaq Capital Market. La società non ha rispettato due requisiti chiave: il prezzo minimo per azione di 1 USD e il requisito di patrimonio netto minimo di 5.000.000 USD.
Le azioni potrebbero essere sospese dalle negoziazioni su Nasdaq entro il 5 settembre 2025, a meno che GreenPower non presenti con successo un ricorso entro il 3 settembre 2025. GreenPower intende richiedere un'udienza davanti al Nasdaq Hearings Panel, che sospenderà temporaneamente la sospensione in attesa della decisione del Panel. In caso di esclusione, le azioni continuerebbero a essere negoziate sulla TSX Venture Exchange e probabilmente passeranno al OTC Markets Group negli Stati Uniti.
GreenPower Motor Company (NASDAQ: GP) ha recibido una carta de determinación de Nasdaq Listing Qualifications que indica una posible exclusión del Nasdaq Capital Market. La empresa no cumplió con dos requisitos clave: el precio mÃnimo por acción de 1 USD y el requisito de patrimonio neto mÃnimo de 5.000.000 USD.
Las acciones podrÃan ser suspendidas de negociación en Nasdaq antes del 5 de septiembre de 2025, salvo que GreenPower presente y gane una apelación antes del 3 de septiembre de 2025. GreenPower tiene la intención de solicitar una audiencia ante el Nasdaq Hearings Panel, lo que detenerá temporalmente la suspensión hasta que el Panel decida. Si se produce la exclusión, las acciones seguirÃan cotizando en la TSX Venture Exchange y probablemente se trasladarÃan al OTC Markets Group en Estados Unidos.
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GreenPower Motor Company (NASDAQ: GP) a reçu une lettre de détermination de Nasdaq Listing Qualifications indiquant un risque de radiation du Nasdaq Capital Market. La société n’a pas respecté deux exigences clés : le cours d’offre minimum de 1 USD par action et l’exigence de capitaux propres minimum de 5 000 000 USD.
Les actions pourraient être suspendues de la cotation sur Nasdaq d’ici le 5 septembre 2025, à moins que GreenPower ne fasse appel avec succès avant le 3 septembre 2025. GreenPower a l’intention de demander une audience devant le Nasdaq Hearings Panel, ce qui suspendra temporairement la suspension en attendant la décision du Panel. En cas de radiation, les actions continueraient de se négocier sur la TSX Venture Exchange et passeraient probablement au OTC Markets Group aux États-Unis.
GreenPower Motor Company (NASDAQ: GP) hat ein Feststellungsschreiben von Nasdaq Listing Qualifications erhalten, das auf eine mögliche Delistung vom Nasdaq Capital Market hinweist. Das Unternehmen hat zwei zentrale Anforderungen nicht erfüllt: den Mindestgebotspreis von 1 USD pro Aktie und die Anforderung eines Mindestaktionärsvermögens von 5.000.000 USD.
Die Aktien könnten spätestens am 5. September 2025 vom Nasdaq-Handel ausgesetzt werden, sofern GreenPower die Entscheidung nicht bis zum 3. September 2025 erfolgreich anfechtet. GreenPower beabsichtigt, eine Anhörung vor dem Nasdaq Hearings Panel zu beantragen, wodurch die Aussetzung bis zur Entscheidung des Panels vorübergehend aufgehoben würde. Im Falle einer Delistung würden die Aktien weiterhin an der TSX Venture Exchange gehandelt und würden wahrscheinlich in den USA zum OTC Markets Group wechseln.
- None.
- Company failed to maintain minimum bid price requirement of US$1 per share
- Does not meet US$5,000,000 minimum stockholders' equity requirement
- Faces potential delisting from Nasdaq Capital Market
- Not eligible for additional 180-day compliance period
Insights
GreenPower faces Nasdaq delisting for bid price and equity requirement failures; appeals process underway with uncertain outcome.
GreenPower Motor Company has received a delisting determination letter from Nasdaq, indicating the company has failed to meet two critical listing requirements. First, the company's share price has remained below
The significance of this development cannot be overstated. Without successful appeal, GreenPower's shares will be suspended from Nasdaq on September 5th and subsequently delisted. The company has requested a hearing to appeal, which temporarily stays the suspension pending the Panel's decision, but the dual compliance issues substantially complicate their case.
If delisted, GreenPower would likely move to the OTC Markets in the US while maintaining its TSX Venture listing in Canada. This transition typically results in reduced liquidity, institutional investor access, and analyst coverage. Companies moving from Nasdaq to OTC markets often experience increased trading volatility and potential value erosion due to the perception of heightened risk and reduced regulatory oversight.
The company's statement that it's "diligently working" to satisfy requirements is standard language in these situations, but the dual compliance failures present a formidable challenge. The timeline is extremely tight, and without dramatic intervention—such as a reverse stock split or significant capital injection—GreenPower's prospects for maintaining its Nasdaq listing appear uncertain at best.
The Letter also noted that on February 27, 2025, the Staff notified the Company that, for the previous 30 consecutive business days, the bid price of the Company's common shares had closed at less than
In addition, the Letter noted that, on August 15, 2025, Staff notified the Company that it did not comply with Nasdaq Listing Rule 5550(b) (the "Equity Rule"), and requested the Company submit a plan to regain compliance with the Equity Rule no later than September 29, 2025. The Letter further noted that pursuant to Nasdaq Listing Rule 5810(d)(2), this deficiency serves as a separate and additional criteria for delisting, and as such, the Staff will not entertain a plan of compliance and the Company should also address this concern before a Hearings Panel (the "Panel") if it appeals the Staff's determination.
The Company intends to request a hearing before the Panel to appeal the Letter. A hearing request will stay the suspension of the Company's common shares and the filing of the Form 25-NSE pending the Panel's decision.
The Company is diligently working to satisfy Nasdaq's requirements in a timely manner. If the Company's common shares cease to be listed for trading on The Nasdaq Capital Market, the Company would expect that its common shares would be traded in
For further information contact:
Fraser Atkinson, CEO
(604) 220-8048
Brendan Riley, President
(510) 910-3377
Michael Sieffert, CFO
(604) 563-4144
About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward looking statements in this press release include that the statements relating to the delisting and suspension of the Company's common shares and the filing of the Form 25-NSE, the statements relating to the Company's intent to request a hearing before the Panel and the stay of the suspension of the Company's common shares and the filing of the Form 25-NSE pending the Panel's decision and the statements relating to the trading market of the Company's common shares if the Company's common shares cease to be listed for trading on The Nasdaq Capital Market. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. A number of important factors including those set forth in other public filings (filed under the Company's profile on Ìýand ) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Risks that could change or prevent these statements from coming to fruition include that the Company's appeal of the determination of the Staff will not succeed. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ©2025 GreenPower Motor Company Inc. All rights reserved.
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SOURCE GreenPower Motor Company