SRIVARU Holding Receives Additional Nasdaq Delisting Notification And Submits Request For Hearing To Appeal

Author: Benzinga Newsdesk | July 31, 2024 04:56pm

SRIVARU Holding Limited (NASDAQ:SVMH, SVMHW))) ("SRIVARU" or the "Company"), a manufacturer of premium electric motorcycles today announced that on July 30, 2024, the Company received an additional staff determination letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company of the determination of the Nasdaq staff (the "Staff") that because the Company had not regained compliance with the Nasdaq requirements to maintain (i) a minimum Market Value of Publicly Held Shares of $15,000,000, and (ii) a minimum Market Value of Listed Securities of $50,000,000 as set forth in Nasdaq Listing Rules 5450(b)(2)(A) and 5450(b)(2)(C), respectively, these matters serve as additional bases for delisting the Company's securities from the Nasdaq Global Market.

Posted In: SVMH