News

Advent Technologies received a Nasdaq compliance notice for late filing its 2024 Annual Report, allowed 60 days to respond.

Quiver AI Summary

Advent Technologies Holdings, Inc. announced that it received a notice from Nasdaq on April 16, 2025, indicating non-compliance with filing requirements due to the late submission of its Annual Report on Form 10-K for the year ended December 31, 2024, which was due by March 31, 2025. Though the notice has no immediate effect on the trading of the company's shares, Advent has been granted 60 days to submit a plan for regaining compliance, with a target submission date of April 30, 2025. The company aims to complete its 10-K filing by the same date and expects to maintain its compliance with SEC reporting obligations moving forward.

Potential Positives

• The company has received a notice from Nasdaq, but it currently has no immediate effect on the listing or trading of the Company's shares.
• Advent has been granted 60 days to submit a plan to regain compliance, which indicates that there is an opportunity for resolution and continued listing.
• The company is actively working to complete its Fiscal Year 2024 10-K and targets its filing by April 30, 2025, demonstrating its commitment to meet regulatory obligations.
• Advent Technologies holds approximately 150 patents for fuel cell technology, showcasing its innovative capabilities in the renewable energy sector.

Potential Negatives

• Nasdaq has notified Advent Technologies that it is not in compliance with periodic filing requirements, which may indicate financial distress or operational issues.
• The company failed to file its Annual Report on Form 10-K by the required due date, which could raise concerns among investors regarding management and governance practices.
• If the company fails to submit an acceptable compliance plan by the deadline, it risks delisting from Nasdaq, which could severely impact stock liquidity and investor confidence.

FAQ

What compliance issue did Advent Technologies face on April 16, 2025?

Advent Technologies received a notice from Nasdaq for not filing its Annual Report on Form 10-K by the due date.

What is the due date for Advent Technologies to submit a compliance plan?

The company has until June 16, 2025, to submit a plan to regain compliance.

When does Advent Technologies plan to file its Annual Report with the SEC?

Advent expects to file its Fiscal Year 2024 10-K with the SEC by April 30, 2025.

Will this notice from Nasdaq affect the trading of Advent's shares?

No, the notice does not have an immediate effect on the listing or trading of the company's shares.

What is Advent Technologies' core business focus?

Advent develops, manufactures, and assembles complete fuel cell systems and critical components in the renewable energy sector.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

Full Release

LIVERMORE, Calif., April 16, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: ADN). Advent Technologies Holdings, Inc. announced today that, as expected, it received a notice from Nasdaq on April 16, 2025, notifying the Company that it is not in compliance with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (“Fiscal Year 2024 10-K”) was not filed with the Securities and Exchange Commission (the “SEC”) by the required due date of March 31, 2025.

This Notice received from Nasdaq has no immediate effect on the listing or trading of the Company's shares. Nasdaq has provided the Company with 60 calendar days, until Sunday, June 16, 2025, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company an exception until October 13, 2025, as instructed by the Letter, to regain compliance with the Nasdaq Listing Rules.

The Company expects and intends to submit to Nasdaq the compliance plan by April 30, 2025. The Company continues to work diligently to complete its Fiscal Year 2024 10-K and continues to target filing its Fiscal Year 2024 10-K with the SEC by April 30, 2025, with subsequent periodic filings made on-time, after which the Company anticipates maintaining compliance with its SEC reporting obligations.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Livermore, CA, with offices in Athens, Patras and Kozani Greece. With approximately 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit
www.advent.energy
.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on August 13, 2024, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at
www.sec.gov
, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.

press@advent.energy

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.