Ideanomics Announces Receipt of Notice from Nasdaq Regarding Listing Delinquency

New York, NY, July 02, 2024 (GLOBE NEWSWIRE) -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") today announced that on June 26, 2024, the Company received a notice from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company’s Form 10-K for the fiscal year ended December 31, 2023, reported stockholders’ equity of less than the required minimum of $2,500,000 in stockholders’ equity for continued listing, and as of that day, the Company did not meet the alternatives of market value of listed securities or net income from continuing operations, the Company no longer complied with Listing Rule 5550(b)(1). Accordingly, this matter serves as an additional basis for delisting the Company’s securities from The Nasdaq Stock Market. 

The Nasdaq Hearings Panel (the “Panel”) will consider this matter in their decision regarding the Company’s continued listing on The Nasdaq Capital Market and the Company must present its views with respect to this additional deficiency to the Panel in writing no later than July 3, 2024. 

The Company is working diligently to regain compliance and will provide an update once more information is available.