Fusion Fuel to Transfer Equity Listing to The Nasdaq Capital Market; Receives Extension to Comply with Bid Price Rule

Fusion Fuel to Transfer Equity Listing to The Nasdaq Capital Market; Receives Extension to Comply with Bid Price Rule

DUBLIN, Jan. 31, 2025 (GLOBE NEWSWIRE) — via IBN — Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of comprehensive energy engineering, advisory, and supply solutions, today announced that it was notified by the staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Staff has approved the Company’s application to transfer its Class A Ordinary Shares and publicly-traded warrants to The Nasdaq Capital Market from The Nasdaq Global Market. This transfer will take effect at the opening of business on February 3, 2025.

In connection with the transfer, the Staff determined that the Company will be eligible for an additional 180 calendar day period, or until July 28, 2025, to regain compliance with the Nasdaq minimum $1.00 bid price per share requirement (the “Minimum Bid Price Requirement”). The Company intends to take all necessary steps to regain compliance, including effecting a reverse share split, if necessary, to regain compliance. If at any time during this additional time period the closing bid price of the Class A Ordinary Shares is at least $1.00 per share for a minimum of ten consecutive business days, the Staff will provide written confirmation of compliance for continued listing on The Nasdaq Capital Market.

As previously reported in a Report on Form 6-K furnished to the Securities and Exchange Commission on January 13, 2025, on January 10, 2025, the Company received a letter from the Staff notifying it that since the Company has not yet held an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year ended December 31, 2023, it no longer complies with Nasdaq Listing Rule 5620(a) (the “Annual Meeting Requirement”). There can be no assurance that Fusion Fuel will be able to regain compliance with the Minimum Bid Price Requirement, whether by implementing a reverse share split or otherwise, that the Company will be able to regain compliance with the Annual Meeting Requirement, or that the Company will be able to meet the Nasdaq listing requirements in general.

Fusion Fuel does not anticipate a material impact on its equity trading as a result of the transfer of listing. The Nasdaq Capital Market operates in the same manner as The Nasdaq Global Market and is a continuous trading market that lists companies that must meet certain financial and corporate governance requirements. Fusion Fuel’s securities will continue to trade under the symbols “HTOO” and “HTOOW.”

JP Backwell, CEO of Fusion Fuel, said :

We are pleased to receive Nasdaq’s approval to transfer our listing to The Nasdaq Capital Market, along with the additional time to regain compliance with the Minimum Bid Price Requirement,

“This determination provides us with both the flexibility and the confidence to continue executing on our strategic initiatives with a renewed focus on building our business. We remain committed to delivering value to our shareholders and further establishing Fusion Fuel as a leading provider of full-service energy engineering and advisory solutions.”

READ the latest news shaping the hydrogen market at Hydrogen Central

Fusion Fuel to Transfer Equity Listing to The Nasdaq Capital Market; Receives Extension to Comply with Bid Price Rule, source

The post Fusion Fuel to Transfer Equity Listing to The Nasdaq Capital Market; Receives Extension to Comply with Bid Price Rule appeared first on Hydrogen Central.