American Battery Technology Company Receives Notice of Non-Compliance from Nasdaq

American Battery Technology Company (OTCMKTS:ABML) disclosed in its recent 8-K filing that it has received a written notice from the Nasdaq Stock Market LLC regarding non-compliance with the minimum bid price requirements for continued listing on The Nasdaq Capital Market.

The Notification Letter from Nasdaq, received on December 19, 2024, highlighted that American Battery Technology Company did not meet the minimum closing bid price of $1.00 per share, as required by Nasdaq Listing Rule 5550(a)(2). This deficiency persisted for 30 consecutive business days based on the closing bid price of the company’s common stock prior to the date of the notification.

Despite the non-compliance, the Notification Letter does not immediately impact the company’s listing on The Nasdaq Capital Market. American Battery Technology Company has been granted a grace period until June 17, 2025, to rectify the situation and regain compliance with Nasdaq Listing Rule 5550(a)(2). To meet the requirement, the closing bid price of the common stock must be at or above $1.00 per share for a minimum of 10 consecutive business days before the deadline.

Should the company fail to comply by the specified date, it may be eligible for additional time to achieve compliance with the minimum bid price requirement. The management of American Battery Technology Company, including Chief Executive Officer Ryan Melsert, is expected to take appropriate actions to address the matter and steer the company towards meeting Nasdaq’s listing standards within the provided timeframe.

This development underscores the importance for American Battery Technology Company to proactively work towards meeting Nasdaq’s regulations to uphold its listing on The Nasdaq Capital Market. Investors and stakeholders will likely monitor the company’s progress in regaining compliance as the deadline approaches.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read American Battery Technology’s 8K filing here.

American Battery Technology Company Profile

American Battery Technology Company, a battery materials company, engages in supplying battery metals. The company explores for resources of battery metals; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.