E-Power Inc. (NASDAQ: EPOW) received notification from Nasdaq on May 20 that the company fails to meet the exchange's minimum bid price requirement for continued listing.

The lithium-ion battery materials manufacturer's Class A ordinary shares closed below the required $1.00 minimum bid price for 30 consecutive business days from April 8 to May 19, according to the company's statement.

Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share. The notification does not immediately affect E-Power's listing on the Nasdaq Capital Market.

The company has been granted 180 calendar days until November 16 to regain compliance. To meet the requirement, E-Power's shares must maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.

If the company fails to regain compliance by the deadline, it may be eligible for additional time or face potential delisting from the exchange.

E-Power stated that its business operations remain unaffected by the notification. The company said it intends to monitor its share price and may consider available options to regain compliance, including a potential reverse share split of its outstanding Class A ordinary shares.

The Dover-based company operates through a joint venture that manufactures graphite anode material for lithium-ion batteries. The joint venture completed construction of a manufacturing facility with 50,000 tons of production capacity.