Posted 1/16/2024, 11:49:00 PM
NYSE Moves to Delist Electriq Power Stock Over Low Market Cap After Merger
- NYSE suspended trading in Electriq Power shares and seeks to delist the stock due to non-compliance with $15M market cap requirement
- Energy storage and management company has right to review the delisting determination
- Revenue was hurt by Kohler's termination of a contract
- In Jan, company said it expected $1.3M Q4 sales and $20M-$30M 2024 revenue
- Stock closed at 27 cents Tuesday, down 6.5% after merging with blank-check company TLG Acquisition One Corp. in August