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GreenPower Motor Company Faces Delisting from Nasdaq

Strategic Insights

— 2 min read

Vancouver-based GreenPower Motor Company, a leading manufacturer of all-electric medium and heavy-duty vehicles, is on the verge of being delisted from the Nasdaq Capital Market due to non-compliance with listing rules. According to an August 27, 2025, determination letter from the Nasdaq Listing Qualifications staff, the company's common shares will be scheduled for delisting and suspended from trading on September 5, 2025, unless it appeals the decision.

As of August 26, 2025, GreenPower's common shares had failed to meet the minimum bid price requirement of $1 per share for 30 consecutive business days, necessitating compliance with Nasdaq Listing Rule 5810(c)(3)(A) and its 180-day grace period. However, the company does not meet the minimum stockholders' equity initial listing requirements for The Nasdaq Capital Market, which is another major hurdle. The Nasdaq Listing Qualifications staff has also notified GreenPower of an additional deficiency under Nasdaq Listing Rule 5550(b), known as the Equity Rule, further increasing the likelihood of delisting.

"We are working diligently to satisfy Nasdaq's requirements in a timely manner," said Fraser Atkinson, the CEO of GreenPower. "If our common shares cease to be listed for trading on The Nasdaq Capital Market, we expect them to be traded in the United States on one of the three tiered marketplaces of the OTC Markets Group in addition to the TSX Venture Exchange in Canada."

Key Takeaways:

  • GreenPower Motor Company is facing delisting from the Nasdaq Capital Market due to non-compliance with listing rules.
  • The company's common shares will be scheduled for delisting and suspended from trading on September 5, 2025, unless it appeals the decision.
  • As of August 26, 2025, the company's common shares failed to meet the minimum bid price requirement of $1 per share for 30 consecutive business days.
  • GreenPower does not meet the minimum stockholders' equity initial listing requirements for The Nasdaq Capital Market.
  • The Nasdaq Listing Qualifications staff has also notified GreenPower of an additional deficiency under Nasdaq Listing Rule 5550(b), known as the Equity Rule.
  • If delisted, GreenPower's common shares are expected to be traded in the United States on one of the three tiered marketplaces of the OTC Markets Group in addition to the TSX Venture Exchange in Canada.

Statistics:

  • As of August 26, 2025, GreenPower's common shares had traded at below the minimum bid price requirement of $1 per share for 30 consecutive business days.
  • The company does not meet the minimum stockholders' equity initial listing requirements for The Nasdaq Capital Market.
  • The Nasdaq Listing Qualifications staff has notified GreenPower of an additional deficiency under Nasdaq Listing Rule 5550(b), known as the Equity Rule.

Sources:

  • GreenPower Motor Company Inc., "GreenPower Motor Company Inc. Receives Determination Letter from Nasdaq Staff" (August 27, 2025)
  • Nasdaq Listing Rules, "Rule 5550(b) - Equity Rule"
  • Nasdaq Listing Rules, "Rule 5810(c)(3)(A) - Minimum Bid Price Requirement"

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