Vast Renewables Limited Receives Nasdaq Non-Compliance Notice
15 Febrero 2024 - 7:00AM
Business Wire
Vast Renewables Limited has an initial 180-day
period through August 7, 2024, to regain compliance with Market
Value of Publicly Held Shares Standard
Vast Renewables Limited (“Vast”) (Nasdaq: VSTE), a renewable
energy company specializing in concentrated solar thermal power
(“CSP”) energy systems that generate zero-carbon, utility-scale
electricity and industrial process heat today announced that on
February 9, 2024, it received a notification (the “Notice”) from
The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is
not in compliance with the requirements to maintain a minimum
Market Value of Publicly Held Shares (“MVPHS”) of $15,000,000, as
set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS
Requirement”).
The Notice has no immediate effect on the listing of the
Company’s ordinary shares (the “Ordinary Shares”), which continue
to trade on Nasdaq under the symbol “VSTE.”
The Notice provided that, in accordance with Nasdaq Listing
Rules 5810(c)(3)(D), the Company has a period of 180 calendar days
from the date of the Notice, or until August 7, 2024, to regain
compliance with the MVPHS Requirement. During this period, the
Ordinary Shares will continue to trade on Nasdaq. Nasdaq will deem
the Company to have regained compliance with the MVPHS Requirement
if at any time during this compliance period the Company’s MVPHS
closes at $15,000,000 or more for a minimum of ten consecutive
business days.
In the event the Company does not regain compliance with the
MVPHS Requirement by August 7, 2024, the Company will receive
written notification from Nasdaq that the Company’s Ordinary Shares
are subject to delisting. The Company is reviewing its options for
regaining compliance with the MVPHS Requirement. There can be no
assurance that the Company will be able to regain compliance with
the MVPHS Requirement in a timely fashion, in which case its
securities may be delisted from Nasdaq.
About Vast
Vast is a renewable energy company that has CSP systems to
generate, store, and dispatch carbon-free, utility-scale
electricity, industrial heat, and to enable the production of green
fuels. Vast’s CSP v3.0 approach to CSP utilizes a proprietary,
modular sodium loop to efficiently capture and convert solar heat
into these end products.
On December 19, 2023, Vast listed on the Nasdaq under the ticker
symbol “VSTE”, while remaining headquartered in Australia.
Visit www.vast.energy for more information.
Forward Looking Statements
The information included herein and in any oral statements made
in connection herewith include “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of present or
historical fact included herein, regarding Vast’s ability to regain
and maintain compliance with Nasdaq listing requirements, Vast’s
future financial performance, as well as Vast’s strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects, plans and objectives of management are
forward-looking statements. When used herein, including any oral
statements made in connection herewith, the words “anticipate,”
“believe,” “could,” “estimate,” “expect,” “intend,” “may,”
“project,” “should,” “will,” the negative of such terms and other
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such identifying words. These forward looking statements are based
on Vast management’s current expectations and assumptions, whether
or not identified in this press release, about future events and
are based on currently available information as to the outcome and
timing of future events. Except as otherwise required by applicable
law, Vast disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
hereof. Vast cautions you that these forward-looking statements are
subject to risks and uncertainties, most of which are difficult to
predict and many of which are beyond the control of Vast. These
risks include, but are not limited to, general economic, financial,
legal, political and business conditions and changes in domestic
and foreign markets; the inability to recognize the anticipated
benefits of Vast’s recent business combination; costs related to
that business combination; Vast’s ability to manage growth; Vast’s
ability to execute its business plan, including the completion of
the Port Augusta project, at all or in a timely manner and meet its
projections; potential litigation, governmental or regulatory
proceedings, investigations or inquiries involving Vast or its
subsidiaries, including in relation to the recent business
combination; changes in applicable laws or regulations, Vast’s
ability to regain and maintain compliance with Nasdaq listing
standards and general economic and market conditions impacting
demand for Vast’s products and services. Additional risks are set
forth in the section titled “Risk Factors” in the final prospectus,
dated November 22, 2023, as supplemented, and other documents
filed, or to be filed with the SEC by Vast. Should one or more of
the risks or uncertainties described herein and in any oral
statements made in connection therewith occur, or should underlying
assumptions prove incorrect, actual results and plans could differ
materially from those expressed in any forward-looking statements.
Additional information concerning these and other factors that may
impact Vast’s expectations can be found in Vast’s periodic filings
with the SEC. Vast’s SEC filings are available publicly on the
SEC’s website at www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240215307961/en/
For Investors: Caldwell Bailey ICR, Inc. VastIR@icrinc.com
For US media: Matt Dallas ICR, Inc. VastPR@icrinc.com
For Australian media: Nick Albrow Wilkinson Butler
nick@wilkinsonbutler.com
Vast Renewable (NASDAQ:VSTE)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Vast Renewable (NASDAQ:VSTE)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024