MOUNTAIN VIEW, Calif. - Aeva Technologies, Inc. (NYSE: AEVA), known for its advanced sensing and perception systems, announced on Thursday that it has regained compliance with the New York Stock Exchange's (NYSE) continued listing criteria.
The company's stock had previously fallen below the NYSE's minimum share price requirement, but as of March 21, 2024, Aeva's common stock closed above the $1.00 threshold, addressing the non-compliance issue.
The NYSE requires listed companies to maintain a minimum average closing share price of $1.00 over a consecutive 30 trading-day period. Aeva had been notified of its non-compliance after its share price averaged below this threshold.
However, recent trading has seen an improvement in the company's share price, with both the closing price on March 21 and the 30-day average exceeding the minimum requirement. This development means that Aeva will be removed from the NYSE's noncompliant issuers list and will continue trading on the exchange.
Aeva specializes in creating technology for various applications, including automated driving and industrial robotics. Its 4D LiDAR sensors are a key component in its product lineup, providing unique velocity detection in addition to 3D positioning. This capability is aimed at enhancing the decision-making process for autonomous systems such as vehicles and robots.
The company's compliance with the NYSE listing standards is based on the latest share price data and is subject to continued adherence to all applicable NYSE requirements. Aeva's forward-looking statements suggest a focus on maintaining its listing status and pursuing growth opportunities, although these statements are subject to various risks and uncertainties, as outlined in their filings with the Securities and Exchange Commission (SEC).
The announcement is a positive step for Aeva as it works to stabilize its financial position and continue its mission in the field of autonomous technology. This news is based on a press release statement from Aeva Technologies, Inc.
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