Swedish electric vehicle manufacturer Polestar announced on Friday that it received a deficiency notice from Nasdaq for failing to meet the exchange’s listing requirements regarding the timely filing of its annual report with the U.S. Securities and Exchange Commission.
The company stated it is actively working to file its annual report for the fiscal year ended December 31, as well as to report its first-quarter financial results for 2024.
“Polestar has 60 days from the date of the notice to submit a plan of compliance to Nasdaq,” the company said in a statement.
A deficiency notice from Nasdaq is a formal alert sent to a company that fails to meet the minimum standards for continued listing, serving as a warning to rectify the issues or face potential delisting.
In April, Polestar disclosed it would delay the publication of its fourth-quarter and full-year 2023 financial results for a second time.
