Amprius Technologies Addresses Recent NYSE Compliance Notice

Amprius Technologies and NYSE Compliance Challenges

Amprius Technologies, Inc. (NYSE: AMPX) has recently received a notice from the New York Stock Exchange (NYSE) regarding compliance with its continued listing standards. This notice informs the company that it has not met the requirement whereby the average closing price of its common stock fell below $1.00 over a 30 trading-day period. It's essential to note that this notice signifies a deficiency rather than a delisting, and Amprius' shares will continue to be traded on the NYSE as the company explores its options.

Understanding the NYSE Listing Rule

Under the NYSE Listing Rule, Amprius must take action to resolve this deficiency. The company has a six-month period to achieve compliance. This can be done by ensuring that the closing price of its stock reaches at least $1.00 on the last trading day of any month and maintains an average closing price of at least $1.00 over the subsequent 30 trading days. This recent notice serves as a catalyst for Amprius to reassess and navigate its market strategies effectively.

Company's Commitment to Compliance

Amprius Technologies is committed to upholding its NYSE listing and is actively considering multiple strategies to regain compliance. The company emphasizes that the NYSE's notice does not pose an immediate threat to its operations or ongoing reporting responsibilities with the U.S. Securities and Exchange Commission (SEC). As Amprius moves forward, its primary goal remains to ensure that the interests of its shareholders and stakeholders are protected.

Impact on Business Operations

The compliance notice has raised questions about how it might affect Amprius' core business operations. However, the company reassures its partners and customers that its business functions remain robust and unaffected by this notice. Amprius continues to focus on delivering high-quality lithium-ion batteries, backed by strong performance metrics in energy density and efficiency.

About Amprius Technologies, Inc.

Amprius Technologies, Inc. is recognized for its leadership in the manufacturing of high-energy and high-power lithium-ion batteries. The innovative company boasts the industry's highest energy density cells, offering SiMaxx™ batteries that deliver remarkable energy metrics of up to 450 Wh/kg and 1,150 Wh/L. With plans to expand its product offerings, Amprius introduced the SiCore™ platform, enhancing its capabilities to meet diverse customer requirements. The company's manufacturing base and R&D facilities located in Fremont enable them to maintain competitive advantages and fuel growth in the battery market.

Expanding Manufacturing Capabilities

To meet rising customer demands, Amprius has entered agreements securing over 500 MW/h of contract manufacturing. Additionally, they have committed to establishing a gigawatt-hour-scale facility in Brighton, Colorado, which will further enhance their production capacity. This strategic move highlights the company's dedication to innovation and market expansion.

Future Outlook

As Amprius navigates this hurdle posed by the NYSE, the focus will remain on regaining compliance while continuing to develop cutting-edge battery technologies. The ongoing investments in R&D and partnerships align with the company's vision of leading the market in high-performance battery solutions.

Frequently Asked Questions

What is the current status of Amprius Technologies on the NYSE?

Amprius Technologies continues to be listed on the NYSE despite receiving a compliance notice. The company has a six-month period to address the deficiency.

How is Amprius planning to regain compliance with the NYSE?

The company plans to comply by ensuring its stock price rises above $1.00 on the last trading day of any month during the designated six-month timeframe.

Will the compliance notice affect Amprius' business operations?

No, the compliance notice is not expected to impact the ongoing business operations of Amprius Technologies or its reporting with the SEC.

What products does Amprius Technologies manufacture?

Amprius manufactures high-energy and high-power lithium-ion batteries, including their SiMaxx™ and the newly introduced SiCore™ batteries.

Where is the headquarters of Amprius Technologies located?

The corporate headquarters of Amprius Technologies is in Fremont, California, where they also have a manufacturing facility and R&D lab.

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