Nasdaq Delisting Notice: Thunder Power Holdings, Inc. to Transition to OTC Markets
In a recent development, Thunder Power Holdings, Inc., known for its pioneering work in the electric vehicle sector, has received a delisting notice from Nasdaq. This decision follows a hearing on April 15, 2025, where Nasdaq concluded that the company did not meet the necessary continued listing standards.
Thunder Power, trading under the symbol AIEV, is preparing to move its stock to the OTC Pink Open Market, managed by OTC Markets Group, Inc., starting April 21, 2025. The company has also initiated the application process to list on the OTCQB® Venture Market, aiming to upgrade from the OTC Pink to the OTCQB upon approval. This shift is not anticipated to impact Thunder Power’s operational activities or its compliance with Securities and Exchange Commission (SEC) reporting obligations.
Chief Executive Officer Christopher Nicoll remarked on the situation, stating, “We previously announced the transfer of our listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective on March 28, 2025. However, after a hearing with a Nasdaq listing committee last week, we were unexpectedly notified of our delisting. Once we have executed on our M&A activities and are qualified, we will reapply to once again be listed on Nasdaq.”
Thunder Power is optimistic about its future endeavors, particularly its planned share exchange with Electric Power Technology Limited (TWSE:4529), which is pending shareholder and regulatory approvals. Nicoll expressed enthusiasm about the anticipated revenue stream in 2025, emphasizing the company’s commitment to expanding its role as a provider of green energy solutions. He added, “We are excited to launch this partnership with EPTL to deliver innovative power solutions to a variety of end markets. This alliance is a deliberate next step to expand our capabilities and enter adjacent environmentally-sustainable fields as we work to bring our EV’s to market.”
About Thunder Power Holdings, Inc.
Thunder Power is at the forefront of electric vehicle innovation, with a strong focus on developing high-performance EVs for markets in Asia and Europe. The company’s strategies are geared toward addressing gaps in the EV sector while diversifying across the clean energy value chain. More information can be found on their website.
Investor inquiries can be directed to AIEV Investor Relations at [email protected] or by calling 713-529-6600.
Forward-Looking Statements
This announcement contains forward-looking statements, which are not historical facts and involve risks and uncertainties. These statements may include expectations about future performance, business plans, or other projections. Thunder Power cautions that actual outcomes may differ significantly from those anticipated in these statements, influenced by various factors, including operational, regulatory, financial, market, and industry risks. Further details can be accessed through Thunder Power’s filings with the SEC at http://www.sec.gov.
Original content can be viewed on PR Newswire.
Original Story at www.morningstar.com