AERWINS Technologies To Delist From Nasdaq; Stock Plunges

(RTTNews) - AERWINS Technologies Inc. (AWIN) said the Nasdaq Hearings Panel has determined to delist the company's common shares from Nasdaq Stock Market LLC and will be suspended trading in those shares effective as of the open of business on June 18, 2024. The company determined that it was in the overall best interests of the company not to appeal the decision.

Previously, AERWINS had received the final delisting notice from the Nasdaq Hearings Panel due to its failure to comply with the terms of the Panel decision.

The company said it intends to evaluate potential strategic alternatives for its business including but not limited to possible sale or seeking potential joint venture partners to operate the business and its options regarding the quotation of its Common Shares on an alternative trading market as soon as practicable following the suspension of its Common Shares on Nasdaq.

AWIN closed Monday's regular trading at $3.34 down $0.59 or 15.01%. In the after-hours trading, the stock further dropped $1.59 or 47.61%.