Lightning eMotors announced that it received a notice from the New York Stock Exchange on August 29, 2023 indicating that the company is not in compliance with Section 802.01B of the NYSE listed company manual because the company’s average global market capitalization over a consecutive 30 trading-day period was less than $50M and, at the same time, the company’s last reported stockholders’ equity was less than $50M. The Notice has no immediate effect on the listing of the company’s common stock on the NYSE, subject to the company’s compliance with the NYSE’s other continued listing requirements.
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