| Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously disclosed, on November 21, 2023, View, Inc. (“View” or the “Company”) was notified by the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no longer satisfied the $10 million stockholders’ equity requirement under the Equity Standard for continued listing on The Nasdaq Global Market, as set forth in Nasdaq Listing Rule 5450(b)(1).
In response, the Company timely submitted a compliance plan (the “Plan”) for the Staff’s review and requested an extension to complete the plan and thereby evidence compliance with all applicable criteria for continued listing on Nasdaq.
By letter dated January 26, 2024, the Staff notified the Company that it had determined that the Company’s Plan did not evidence the Company’s ability to achieve compliance with the Nasdaq continued listing requirements and therefore determined to delist the Company’s securities from Nasdaq. The Notice indicated that unless the Company appeals the delisting determination, which it intends to do, trading of the Company’s common stock will be suspended at the opening of business on February 26, 2024. The Company intends to timely request a hearing before the Nasdaq Hearings Panel (the “Panel”), which request will stay the Staff’s delist determination at least pending completion of the hearing and the expiration of any extension that may be granted by the Panel to the Company.
The Company is considering all available options to regain compliance with the continued listing criteria; however, there can be no assurance that the Panel will grant the Company’s request for continued listing or that the Company will be able to evidence compliance within any extension of time that may be granted by the Panel.
Forward-Looking Statements
This Current Report on Form 8-K, and certain materials View files with the U.S. Securities and Exchange Commission (the “SEC”), as well as information included in oral statements or other written statements made or to be made by View, other than statements of historical fact, contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including but not limited to statements regarding View’s ability to regain compliance with the applicable Nasdaq listing standards and maintain the listing of its securities on Nasdaq. These forward-looking statements are based on current expectations, estimates, assumptions, projections and management’s beliefs, that are subject to change. There can be no assurance that these forward-looking statements will be achieved; these statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond View’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. View’s business is subject to a number of risks which are described more fully in View’s Annual Report on Form 10-K for the year ended December 31, 2022, as amended, its Quarterly Reports on Form 10-Q and in its other filings with the SEC. View undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
