Polestar Automotive (PSNY) Receives Nasdaq Non-compliance Notice

Polestar (Nasdaq: PSNY) has received notice from the Nasdaq Stock Market LLC that the Company is not currently in compliance with the $1.00 minimum bid price requirement, as set forth in Nasdaq Listing Rule 5450(a)(1).

The Notice indicated that, consistent with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 days, or until 2 January 2025, to regain compliance, by having the closing bid price of the Company’s ADSs meet or exceed $1.00 per ADS for at least ten consecutive business days.

If the Company does not regain compliance by the Compliance Deadline, the Company may be afforded an additional 180 calendar day period to regain compliance as provided by the Nasdaq Listing Rules.

The Notice has no immediate impact on the listing of the Company's securities, which will continue to trade on Nasdaq, subject to the Company's continued compliance with the other listing requirements.

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