iPower Faces Possible Nasdaq Delisting Over Minimum Bid Price Requirement

On January 2, 2025, iPower Inc. received a notice from the Nasdaq Listing Qualifications Staff regarding its failure to meet the minimum bid price requirement of $1.00 per share over a 30-day consecutive trading period. This requirement is essential for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The company now has until July 1, 2025, to rectify this non-compliance.

According to Nasdaq Listing Rule 5810(c)(3)(A), iPower has a 180-day Compliance Period to ensure its common stock’s closing bid price remains at or above $1.00 per share for at least ten consecutive trading days, unless extended by Nasdaq. Failure to meet this condition by the given deadline could place the company on the path to eventual delisting.

To remain listed, iPower might be allowed additional time post-July 1, 2025, in which case it must fulfill all other Nasdaq Capital Market listing standards except the minimum bid price requirement. This includes notifying Nasdaq of its intent to resolve the shortfall by implementing a reverse stock split if deemed necessary.

Until any potential delisting occurs, iPower’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “IPW.” However, there is no guarantee that iPower will regain compliance with the Minimum Bid Price Requirement or other listing mandates.

iPower stated that it would monitor its common stock’s bid price closely and explore available options to meet the requirements laid out by Nasdaq. The company may also consider strategic decisions to address the bid price deficiency.

Despite this potentially challenging situation, iPower’s listing status remains unaffected for the time being, and the company has the opportunity to appeal any delisting determination by Nasdaq to a Nasdaq Hearings Panel.

The future trajectory of iPower’s listing and compliance status will largely depend on how effectively the company addresses the minimum bid price requirement within the designated timeline. Investors and stakeholders will undoubtedly keep a watchful eye on iPower’s efforts to uphold its Nasdaq listing standing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read iPower’s 8K filing here.

About iPower

iPower Inc operates as an online retailer and supplier of consumer home, garden, and pet products for commercial businesses and individuals in the United States. The company offers grow light systems; advanced heating, ventilation, and air conditioning systems; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media products.