Form 8-K - Current report
13 September 2023 - 11:35PM
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2023-09-08
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2023-09-08
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported) September 8, 2023
AERWINS
Technologies Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-40734 |
|
86-2049355 |
(State or other jurisdiction |
|
(Commission |
|
(IRS Employer |
of incorporation) |
|
File Number) |
|
Identification No.) |
Shiba
Koen Annex 6 f, Shiba Koen 3-chome, Minato-ku,
Tokyo
Japan |
|
105-0011 |
(Address of principal executive
offices) |
|
(Zip Code) |
Registrant’s
telephone number, including area code +813-6409-6761
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of Each Exchange on Which Registered |
Common Stock, $0.000001
par value per share |
|
AWIN |
|
The
Nasdaq Stock Market LLC |
|
|
|
|
|
Redeemable Warrants, each
whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
AWINW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
September 8, 2023, AERWINS Technologies Inc., a Delaware corporation (the “Company”), received a notification letter (the
“Notification Letter”) from The Nasdaq Stock Market, LLC (“Nasdaq”) that it is not in compliance with the minimum
Market Value of Publicly Held Shares (the “MVPHS”) set forth in Nasdaq Listing Rule 5450(b)(2)(C) for continued listing on
Nasdaq. Nasdaq Listing Rule 5450(b)(2)(C) requires the minimum MVPHS of $15,000,000, and Nasdaq Listing Rule 5810(c)(3)(D) provides that
a failure to meet the minimum MVPHS requirement exists if the deficiency continues for a period of 30 consecutive business days. Based
on the MVPHS of the Company’s common stock between July 27, 2023 and September 7, 2023, the Company no longer meets the minimum
MVPHS requirement. The Notification Letter has no immediate effect on the listing or trading of the Company’s common stock on Nasdaq
and, at this time, the common stock will continue to trade on Nasdaq under the symbol “AWIN.”
The
Notification Letter provides that the Company has 180 calendar days, or until March 6, 2024, to regain compliance with Nasdaq Listing
Rule 5450(b)(2)(C). To regain compliance, the minimum MVPHS must be at least $15,000,000 or more for a minimum of 10 consecutive business
days. If the Company does not regain compliance by March 6, 2024, it will receive written notification from Nasdaq that the Company’s
securities are subject to delisting. Alternatively, the Company may consider applying for a transfer to the Nasdaq Capital Market (the
“Capital Market”). In order to transfer, the Company must submit an on-line Transfer Application, pay a $5,000 fee and meet
the Capital Market’s continued listing requirements.
The
Company intends to monitor the minimum MVPHS requirement of its publicly held shares of its common stock and will consider implementing
available options to regain compliance with the minimum MVPHS requirement under the Nasdaq Listing Rules.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
Exhibit |
|
|
Number |
|
Description |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the
Inline XBRL document). |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: September 13, 2023 |
AERWINS Technologies Inc. |
|
|
|
|
By: |
/s/ Taiji
Ito |
|
|
Taiji Ito |
|
|
Chief Executive Officer |
v3.23.2
Cover
|
Sep. 08, 2023 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Sep. 08, 2023
|
Entity File Number |
001-40734
|
Entity Registrant Name |
AERWINS
Technologies Inc.
|
Entity Central Index Key |
0001855631
|
Entity Tax Identification Number |
86-2049355
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
Shiba
Koen Annex 6 f
|
Entity Address, Address Line Two |
Shiba Koen 3-chome
|
Entity Address, Address Line Three |
Minato-ku
|
Entity Address, City or Town |
Tokyo
|
Entity Address, Country |
JP
|
Entity Address, Postal Zip Code |
105-0011
|
City Area Code |
+813
|
Local Phone Number |
6409-6761
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Common Stock, $0.000001 par value per share |
|
Title of 12(b) Security |
Common Stock, $0.000001
par value per share
|
Trading Symbol |
AWIN
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
Title of 12(b) Security |
Redeemable Warrants, each
whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
|
Trading Symbol |
AWINW
|
Security Exchange Name |
NASDAQ
|
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