Board Change • Dec 31
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Nov 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$93.7m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$7.7m). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (US$93.7m market cap). 공시 • Oct 18
ESGEN Acquisition Corporation Receives a Written Notice from the Listing Qualifications Department of the Nasdaq Stock Market On October 16, 2023, ESGEN Acquisition Corporation received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that, since the Company’s Form 10-Q for the period ended June 30, 2023 reported total holders below the round lot holder requirement under Nasdaq Listing Rule 5450(a)(2), the Company no longer complies with Nasdaq’s Listing Rules. The Notice does not impact the listing of the Company’s Class A ordinary shares, par value $0.0001 per share, on the Nasdaq Global Market at this time. The Notice provided that the Company has a period of 45 days to submit a plan to regain compliance and then, if the plan is accepted, an additional up to 180 calendar days from the date of the Notice, or until April 13, 2024, to regain compliance with the Round Lot Requirement. During this period, Class A ordinary shares will continue to trade on the Nasdaq Global Market. If the plan is not accepted, under Nasdaq Listing Rule 5815(a), the Company may appeal the decision to a Hearings Panel. If the Company does not regain compliance with the Round Lot Requirement by the Compliance Date, the Staff may provide a written notification to the Company that Class A ordinary shares will be subject to delisting. The Company intends to monitor its Round Lot Requirement between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Round Lot Requirement and regain compliance with the Round Lot Requirement. The Company may also try to transfer from the Nasdaq Global Market to the Nasdaq Capital Market, which would require the Company to meet the continued listing requirements of the Nasdaq Capital Market under Nasdaq Listing Rule 5550 at the time of the application to transfer. However, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing criteria or meet the continued listing requirements of the Nasdaq Capital Market. 공시 • May 12
ESGEN Acquisition Receives Written Notice from Nasdaq Regarding Not in Compliance with Nasdaq Listing Rule 5450(b)(2)(A) and 5450(b)(3)(A) On May 10, 2023, ESGEN Acquisition Corporation received a written notice (the ‘Notice’) from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (‘MVLS’) was below the minimum of $50 million required for continued listing on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the ‘Market Value Standard’). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rules 5450(b)(3)(A) (the ‘Total Assets/Total Revenue Standard’). The Notice does not impact the listing of the Company’s Class A ordinary shares, par value $0.0001 per share (‘Class A ordinary shares’), on the Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the ‘Compliance Period Rule’), the Company has a period of 180 calendar days from the date of the Notice, or until November 6, 2023 (the ‘Compliance Date’), to regain compliance with the Market Value Standard. During this period, Class A ordinary shares will continue to trade on the Nasdaq Global Market. If at any time before the Compliance Date the Company’s MVLS closes at or above $50 million for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it has regained compliance with the Market Value Standard and will close the matter. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the Company that Class A ordinary shares will be subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Hearings Panel (the ‘Panel’). However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination by the Staff to the Panel, such appeal would be successful. The Company intends to monitor its MVLS between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Market Value Standard and regain compliance with the Market Value Standard. The Company may also try to comply with another Nasdaq Global Market listing criteria, such as the Total Assets/Total Revenue Standard, or may try to transfer from the Nasdaq Global Market to the Nasdaq Capital Market, which would require the Company to meet the continued listing requirements of the Nasdaq Capital Market under Nasdaq Listing Rule 5550 at the time of the application to transfer. However, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing criteria or meet the continued listing requirements of the Nasdaq Capital Market. 공시 • Apr 03
ESGEN Acquisition Corporation announced delayed annual 10-K filing On 04/01/2022, ESGEN Acquisition Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC.