Carbon Revolution Announces Receipt of Delisting Determination Letter from Nasdaq

Core Viewpoint - Carbon Revolution plc has been notified by Nasdaq that its request for continued listing has been denied due to non-compliance with minimum shareholders' equity and filing requirements, leading to a suspension of trading in its securities effective February 9, 2026 [1][2]. Group 1: Compliance Issues - The Company failed to comply with Nasdaq Listing Rule 5550(b), which pertains to minimum shareholders' equity, and Listing Rule 5250(c)(1), due to not filing its Annual Report on Form 20-F for the period ended June 30, 2025 [1]. - The Company was unable to provide necessary information to demonstrate its ability to complete a strategic transaction by May 5, 2026, as required in its compliance update to the Nasdaq Hearing Panel [1]. Group 2: Market Value Concerns - The Company received a notification indicating that its Market Value of Publicly Held Shares (MVPHS) was below the required minimum of $15,000,000 for continued listing on Nasdaq for the last 30 consecutive business days, from November 13, 2025, to February 3, 2026 [3]. - Although there is a 180-calendar-day period to regain compliance for MVPHS deficiencies, this opportunity is rendered moot by the delisting determination [3]. Group 3: Company Overview - Carbon Revolution plc is a leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, supplying to high-performance, premium, and luxury automotive brands [4]. - The Company has transitioned from producing single prototypes to manufacturing lightweight wheels for various automotive segments, aiming to create a sustainable advanced technology business [4].