Ideanomics says Nasdaq to delist company’s common stock

In a regulatory filing, Ideanomics stated that on July 9, the company was notified by Nasdaq that as a result of the company’s previously disclosed noncompliance with Nasdaq Listing Rules 5550(a)(2) and 5550(b)(2), Nasdaq has determined to delist the company’s common stock from The Nasdaq Capital Market and, accordingly, will suspend trading in the company’s common stock on Nasdaq effective at the open of business on Thursday, July 11. Nasdaq further indicated that it will file a Form 25 Notification of Delisting with the United States Securities and Exchange Commission once all Nasdaq review and appeal periods have run. The company will apply to have its common stock and warrants quoted on the OTC Markets’ OTCQX market tier, an electronic quotation service operated by OTC Markets Group Inc. for eligible securities traded over-the-counter. Pending approval, the company expects that its common stock will be eligible to trade on the OTC Markets’ Pink Current Information tier at the open of business on Thursday, July 11, under its current trading symbol “IDEX“.