BRISBANE, Australia, April 11, 2024 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Nasdaq: DCFC) (Tritium or the Company), a global developer and manufacturer of direct current (DC) fast chargers for electric vehicles (EVs), today announced that on April 5, 2024 the Company received a notice from the Nasdaq Stock Market LLC (Nasdaq) that the Company does not currently meet the minimum 1,100,000 publicly held shares required for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5450(b)(1)(B) (the Public Float Standard).
The Company plans to discuss the Public Float Standard with Nasdaq during its scheduled hearing with the Nasdaq Hearings Panel and present the Company's views pursuant to Listing Rule 5810(d). The Company intends to demonstrate a plan to regain compliance with the Public Float Standard and intends to take all necessary steps for its shares to remain trading on Nasdaq until such time as the Nasdaq Hearings Panel makes a final determination.
About Tritium
Founded in 2001, Tritium (Nasdaq: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium's compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, visit tritiumcharging.com.
Forward Looking Statements
This press release includes forward-looking statements. The Company's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as expect, estimate, project, budget, forecast, anticipate, intend, plan, may, will, could, should, believe, predict, potential, continue, aim and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations, hopes, beliefs, intentions, or strategies for the future, including those that relate to the Company's reverse stock split and share price. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company's control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Media Contact
Nathan Dunlop
media@tritiumcharging.com