05:37 AM EDT, 03/20/2024 (MT Newswires) -- Sunrise New Energy ( EPOW ) said late Tuesday it has been notified that it is not in compliance with the Nasdaq Stock Market's minimum bid price requirement for continued listing.

The company's shares remained below $1 for 30 consecutive business days from Jan. 30.

The lithium-ion battery materials company said it now has 180 calendar days, or until Sept. 10, to regain compliance. It may be eligible for an additional 180 calendar days to regain compliance if it fails to do so, or may face delisting.

The company said it intends to monitor the closing bid price of its shares and may consider implementing available options to regain compliance.

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