On the forthcoming delisting of Class A ordinary shares of Fisker Inc. (FSR)
Information regarding the QI's status on the foreign stock exchange
The International Trading System Limited (hereinafter – ITS) hereby informs on the forthcoming delisting of Class A ordinary shares of Fisker Inc. (FSR) (hereinafter – Shares, QI) from the New York Stock Exchange LLC (hereinafter - NYSE).
On February 15, 2024 Fisker Inc. (hereinafter – the Company) received a notice from NYSE that it was not in compliance with the continued listing standard set forth in Section 802.01C of the NYSE Listed Company Manual (hereinafter – Section 802.01C) because the average closing price of the Shares was less than $1.00 per share over a consecutive 30 trading-day period.
On March 25, 2024 the Company received notice that NYSE determined to suspend trading of and commenced proceedings to delist the Company’s Class A Common stock due to “abnormally low” trading price levels pursuant to Section 802.01D of the NYSE Listed Company Manual.
Information regarding the actions taken by ITS Ltd.
On March 26, 2024 ITS discovered that the QI of FSR did not comply with the requirements of applicable legislation and Listing Rules and in view of the inability to regain compliance made a decision to terminate trading in QI effective April 26, 2024.
More detailed information may be found on the official SEC website.
Previously disclosed news
19.02.2024 On the risk of delisting of Class A ordinary shares of Fisker Inc. (FSR)
01.03.2024 On the risk of delisting of Class A ordinary shares of Fisker Inc. (FSR)
26.03.2024 On termination of trading in Class A ordinary shares of Fisker Inc. (FSR)