News

Advent Technologies received a Nasdaq compliance notice after failing to file required financial reports on time.

Quiver AI Summary

Advent Technologies Holdings, Inc. announced that it received a notification from the Nasdaq Stock Market regarding non-compliance with listing requirements due to the company's failure to file its Quarterly Report on Form 10-Q by the May 15, 2025 deadline and the Annual Report on Form 10-K for the year ended December 31, 2024, which has not yet been filed. While this letter does not affect the current listing or trading of Advent's shares, the company has until June 16, 2025, to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant an extension until October 13, 2025, for the company to regain compliance, although there is no guarantee of acceptance or successful compliance by that date. Advent, which specializes in fuel cell systems and technologies, plans to submit its compliance plan on time.

Potential Positives

• The Company has been given until June 16, 2025, to submit a plan to regain compliance with Nasdaq Listing Rules, indicating an opportunity to address the issues raised.
• Nasdaq's letter has no immediate effect on the listing or trading of the Company's shares, allowing for continued operations without immediate interruption.
• The Company intends to submit a compliance plan, demonstrating proactive engagement with Nasdaq to resolve the non-compliance status.
• Advent Technologies Holdings, Inc. possesses a strong intellectual property portfolio with more than 150 patents, showcasing its innovative capabilities in the fuel cell technology sector.

Potential Negatives

• The company is currently not in compliance with Nasdaq Listing Rules due to late filings of key financial reports, which raises concerns about its governance and financial management.
• There is no assurance that Nasdaq will accept the compliance plan, which could jeopardize the company's listing status and public perception.
• Failure to regain compliance by the new deadlines could lead to delisting, affecting shareholder value and investor confidence.

FAQ

What is the Nasdaq compliance issue Advent Technologies is facing?

Advent Technologies has not filed its Quarterly Report on Form 10-Q and Annual Report on Form 10-K by their due dates, leading to non-compliance with Nasdaq rules.

What deadlines does Advent Technologies have to address the Nasdaq compliance issue?

The company must submit a compliance plan by June 16, 2025, to regain compliance with Nasdaq Listing Rules.

Will Advent Technologies' stock trading be affected by this compliance notification?

No immediate effect on the listing or trading of Advent Technologies' shares has been stated, according to the Nasdaq letter.

How long does Advent Technologies have to regain compliance after submitting its plan?

If accepted, Nasdaq may grant an extension until October 13, 2025, for Advent Technologies to regain compliance.

What does Advent Technologies do?

Advent Technologies develops and manufactures fuel cell systems, supplying critical components for the renewable energy sector, and holds over 150 patents in this field.

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., May 23, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: ADN) On May 22, 2025, Advent Technologies Holdings, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it is not in compliance with periodic requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2025 was not filed with the Securities and Exchange Commission by the required due date of May 15, 2025, and because the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 was not filed by the required due date of March 31, 2025 and has not yet been filed. This Letter received from Nasdaq has no immediate effect on the listing or trading of the Company’s shares.

Under Nasdaq rules, the Company now has until Monday, June 16, 2025, to submit a plan to regain compliance with Nasdaq Listing Rules. If Nasdaq accepts the Company’s plan, Nasdaq may grant an exception until Monday, October 13, 2025, as instructed by the Letter, to regain compliance with the Nasdaq Listing Rules. However, there is no assurance that Nasdaq will accept the Company’s plan to regain compliance or, if accepted, that the Company will be able to regain compliance with Nasdaq’s rules by October 13, 2025.

The Company expects and intends to submit to Nasdaq a compliance plan no later than June 16, 2025.

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 and Patras Greece. With more than 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

This article was originally published on Quiver News, read the full story.

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