- Energy Vault Holdings (NRGV, Financial) received a non-compliance notice from NYSE due to its stock price falling below $1.00.
- The company has been granted a six-month period to regain compliance with the NYSE's listing standards.
- NRGV intends to notify NYSE of its compliance strategy by May 1, 2025, and explore alternatives requiring stockholder approval.
Energy Vault Holdings, Inc. (NRGV) announced it has received a notice from the New York Stock Exchange (NYSE) on April 16, 2025, indicating non-compliance with the exchange's continued listing standards. This notice comes as the average closing price of NRGV's common stock fell below $1.00 over a consecutive 30-day trading period.
Under NYSE regulations, Energy Vault has been granted a six-month cure period to rectify the stock price deficiency. The company plans to inform the NYSE by May 1, 2025, about its intention to resolve this issue and return to compliance with the minimum stock price requirement. Potential corrective actions may involve stockholder approval if necessary.
During this cure period, NRGV's common stock will continue to trade on the NYSE. To successfully cure the deficiency, Energy Vault needs the stock price to exceed $1.00 per share and remain above that level for at least 30 consecutive trading days.
Energy Vault, known for its innovative utility-scale energy storage solutions, is exploring various alternatives to address the situation and sustain its NYSE listing, ensuring continued operations and growth in the energy storage sector.
