Hyzon Motors Inc., the fuel cell electric vehicles (FCEVs) producer, announced on February 17, 2023, it has received a letter from the Nasdaq Hearings Panel granting its request to extend the stay of delisting, pending a hearing before the panel and a final determination regarding Hyzon’s listing status.
The company is set to appear before the Hearings Panel on March 16, 2023, where it will present its plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) and request the continued listing of its securities on The Nasdaq Capital Market, pending such compliance.
The extension of the stay of delisting gives Hyzon additional time to prepare for the hearing and present its case before the Hearings Panel. The company is committed to complying with Nasdaq Listing Rule 5250(c)(1) and ensuring that its securities remain listed on The Nasdaq Capital Market.
Nasdaq Listing Rule 5250(c)(1) is a rule that requires listed companies on The Nasdaq Capital Market to maintain timely and accurate financial reporting with the Securities and Exchange Commission (SEC). Specifically, this rule requires companies to file all required periodic financial reports with the SEC in a timely manner, including annual reports, quarterly reports, and current reports.