SaverOne Achieves Nasdaq Compliance with Bid Price Standards
SaverOne's Milestone in Nasdaq Compliance
Petah Tikvah, Israel - SaverOne 2014 Ltd. (NASDAQ: SVRE, TASE: SVRE), a pioneering name in vehicle safety technology, has received a significant confirmation from The Nasdaq Stock Market, LLC. The company proudly announces that it has regained compliance with Nasdaq’s minimum bid price requirement. This achievement stems from the company maintaining a closing bid price of its American Depository Shares (ADS) at or above $1.00 for more than ten consecutive business days.
Details on Compliance Achievement
The closing bid price for SaverOne’s ADS exceeded the $1.00 threshold beginning from February 21, marking over ten consecutive business days of compliance. Consequently, the staff at Nasdaq Listing Qualifications has officially acknowledged the company’s adherence to Nasdaq Listing Rule 5550(a)(2).
About SaverOne's Innovative Technology
The SaverOne system is an advanced technology installed in vehicles to combat driver distraction, a pressing issue leading to numerous road accidents globally. According to statistics from the US National Highway Traffic Safety Administration, the financial impact of road accidents in the United States alone is approximately $870 billion annually. This figure excludes costs associated with serious injuries or fatalities, with a significant portion of these accidents linked to mobile phone usage while driving.
SaverOne’s technology proactively identifies the driver’s zone within the vehicle, preventing access to disruptive applications while still allowing necessary functions like navigation. This selective access ensures that essential applications remain active, promoting a safer driving experience.
Market Reach and Growth Potential
The company's primary markets include commercial fleets, private vehicle owners, automotive manufacturers, as well as insurance and leasing companies. With a strategic initial focus on fleets in Israel, Europe, and the United States, SaverOne is well-positioned to address a rising demand for solutions that mitigate distractions caused by cellular devices. As regulations in the European Union evolve, the anticipated emphasis on monitoring driver distractions could dramatically enhance the market for SaverOne’s innovative systems.
Strategic Vision and Future Plans
SaverOne's approach involves providing its cutting-edge technology to both aftermarket clients and directly to Original Equipment Manufacturers (OEMs). The goal is to integrate these safety features during the manufacturing stage of vehicles, ensuring that the product reaches consumers effectively and efficiently.
The company’s initial offerings are designed to save lives by assuaging the risks linked to mobile distractions while driving. Additionally, SaverOne is developing a sensor system capable of detecting vulnerable road users (VRUs) by tracking their cellphone presence. This approach aims to improve road safety conditions for all users on the road.
Contact and Further Information
For additional inquiries or more information about SaverOne, you can reach out to the international investor relations contact, Ehud Helft, at +1 212 378 8040, or via email at saverone@ekgir.com.
Frequently Asked Questions
What is SaverOne's primary technology focus?
SaverOne develops technologies designed to prevent distractions from mobile phones while driving, significantly improving road safety.
How does SaverOne's technology work?
The technology installed in vehicles restricts access to distracting applications while ensuring necessary functions, such as navigation, remain accessible.
What markets is SaverOne targeting for its products?
SaverOne primarily focuses on commercial fleets, automotive manufacturers, and insurance companies in Israel, Europe, and the United States, with plans to expand further.
Why is complying with Nasdaq's requirements important?
Compliance with Nasdaq’s standards reflects the company's financial stability and trustworthiness, which can positively impact investor confidence and market presence.
How can I reach SaverOne for more details?
You can contact Ehud Helft at +1 212 378 8040 or email saverone@ekgir.com for more information.
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