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VivoPower International PLC (NASDAQ:VVPR) ("VivoPower" or the "Company") announced today that it has received a letter from the Nasdaq Stock Market LLC ("Nasdaq") wherein, based on the Company's Form 6-K, dated June 26, 2025, Nasdaq has determined that the Company complies with the Listing Rule 5550(b)(1).
As previously disclosed, on January 3, 2025, the Company received a notification letter from Nasdaq indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain a minimum of US$2.5 million in stockholders' equity for continued listing on the Nasdaq Capital Market (the "Rule"). Following the successful the first phase of the previously announced US$121 million private placement of the Company's ordinary shares, from which the Company recognized US$60.5 million in gross proceeds, the Company has now satisfied the stockholders' equity requirement.
Nasdaq will continue to monitor the Company's ongoing compliance with the minimum stockholders' equity requirement and, if at the time of its next periodic report for the year ended June 30, 2025, the Company does not evidence compliance with the minimum stockholders' equity requirement, the Company may be subject to delisting. At that such time, Nasdaq staff will provide written notification to the Company, which it may then appeal the Nasdaq staff's determination to a Hearings Panel.
Posted In: VVPR
