The company successfully addresses bid price and reinforces its position as a leading player in the micromobility industry, demonstrating a solid commitment to growth and innovation.
NEW YORK--(BUSINESS WIRE)--May 1, 2023--
micromobility.com Inc. (NASDAQ: MCOM), a pioneering global micromobility ecosystem, is pleased to announce that it has achieved compliance with the Nasdaq Capital Market's minimum bid price requirement. On April 30, 2023, micromobility.com Inc. received a letter from the Listing Qualifications Department of the Nasdaq Stock Market, LLC ("Nasdaq"), confirming that it has met the required threshold, as stipulated by the Hearing Panel's ("Panel") amended decision of March 7, 2023 (the "Decision"). The Company attained compliance when the closing bid price for its common stock remained at or above the required threshold for twenty consecutive business days, successfully resolving the matter.
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This achievement underscores micromobility.com Inc.'s commitment to growth, innovation, and maintaining a strong market presence. In order to maintain full compliance, the Company is required to hold its annual meeting on or before May 31, 2023, and is actively organizing to make this happen.
Micromobility.com Inc. remains deeply committed to maintaining its listing on the Nasdaq Capital Market and expresses gratitude for the unwavering support of its shareholders, customers, and partners. The Company will continue to innovate, expand its offerings, and drive growth within the micro-mobility sector, striving to provide exceptional value and service to all stakeholders.
About micromobility.com Inc.
micromobility.com Inc., a disruptive leader in the micromobility sector, founded by Salvatore Palella in 2015, combines expertise in retail, shared services, and vehicle rentals to revolutionize urban transportation. With operations spanning across the US and Europe, the holding group encompasses shared micromobility solutions through Helbiz Inc., vehicle rentals via Wheels Labs Inc. and e-commerce and planned brick-and-mortar stores via the micromobility.com brand. Committed to providing eco-friendly, affordable solutions and enhancing global accessibility, micromobility.com Inc. sets the standard for professional excellence in the micromobility landscape. For more information, visit www.micromobility.com.
Certain statements made in this press release are “forward-looking statements'' within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to micromobility.com inc. and speaks only as of the date on which it is made. micromobility.com Inc. undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
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Source: micromobility.com Inc.