Core Viewpoint - Gauzy Ltd. has received a notification from Nasdaq regarding non-compliance with continued listing requirements due to the lack of independent directors on its Board of Directors following recent resignations [1][2]. Group 1: Compliance and Governance - The notification indicates that the Company does not meet Nasdaq Listing Rules 5605(b)(1), 5605(c)(2), and 5605(d)(2) related to board and committee independence [1]. - Gauzy has 45 calendar days, until March 20, 2026, to either appoint sufficient independent directors or submit a compliance plan to Nasdaq [2]. - The Company is actively seeking qualified independent director candidates and is committed to strong corporate governance practices [3]. Group 2: Potential Outcomes - If Nasdaq accepts the compliance plan, the Company may receive an extension of up to 180 calendar days to demonstrate compliance [2]. - Should Nasdaq reject the compliance plan, the Company will be notified of potential delisting, but it has the right to request a hearing [2]. - There is no assurance that the Company will successfully regain compliance within the required timeframe [3]. Group 3: Company Overview - Gauzy Ltd. specializes in vision and light control technologies, with operations in various countries including Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates [4]. - The Company serves leading brands across industries such as aeronautics, automotive, and architecture in over 60 countries [4].
Gauzy Ltd. Announces Receipt of Nasdaq Notice Regarding Board Composition Requirements