Energy Vault Holdings Receives Notice of Non-Compliance from NYSE

Strategic Insights -

Energy Vault Holdings, Inc. (NRGV), a global energy storage company, announced on April 16, 2025, that it had received a notice from the New York Stock Exchange (NYSE) stating that the company's common stock was below the minimum listing requirement of $1.00 per share over a consecutive 30-trading day period. This non-compliance triggers a six-month period for the company to regain compliance with the NYSE's minimum stock price listing requirement. Energy Vault plans to notify the NYSE by May 1, 2025, of its intent to cure the stock price deficiency and return to compliance with the NYSE continued listing standards.

Key Takeaways:

  • Energy Vault received notice from the NYSE on April 16, 2025, indicating non-compliance with the minimum stock price listing requirement due to an average closing price of less than $1.00 over a consecutive 30-trading day period.
  • The company has a six-month period to regain compliance with the NYSE's continued listing standards, during which it plans to consider available alternatives to cure the stock price deficiency.
  • Energy Vault intends to notify the NYSE by May 1, 2025, of its intent to cure the stock price deficiency and return to compliance with the NYSE continued listing standards.
  • The company's common stock will continue to be listed and trade on the NYSE during this cure period.
  • Energy Vault plans to consider available alternatives, subject to stockholder approval, to cure the stock price non-compliance, including taking an action that will require stockholder approval.
  • Under NYSE rules, if Energy Vault determines that it will cure the stock price deficiency by taking an action that will require stockholder approval, the price condition will be deemed cured if the price promptly exceeds $1.00 per share and remains above it for at least the following 30 trading days.
  • Energy Vault expressed caution regarding forward-looking statements in the Current Report on Form 8-K, citing significant risks and uncertainties that may impact the company's ability to regain compliance with the NYSE's continued listing standards.

Statistics:

  • April 16, 2025: Date of notice from the NYSE to Energy Vault regarding non-compliance with minimum stock price listing requirement.
  • $1.00: Minimum listing requirement for the NYSE.
  • 6 months: Period for Energy Vault to regain compliance with the NYSE's continued listing standards.
  • May 1, 2025: Date by which Energy Vault plans to notify the NYSE of its intent to cure the stock price deficiency and return to compliance with the NYSE continued listing standards.
  • 30 trading days: Consecutive period over which the average closing price of Energy Vault's common stock was below the minimum listing requirement.

Sources:

  • Energy Vault Holdings, Inc. (NRGV)
  • New York Stock Exchange (NYSE)
  • Securities Exchange Act of 1934
  • Securities and Exchange Commission (SEC)
  • Energy Vault Holdings, Inc. Annual Report on Form 10-K for the year ended December 31, 2024
  • Energy Vault Holdings, Inc. Current Report on Form 8-K filed with the SEC on April 16, 2025.