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Arcimoto Inc. – ‘8-K’ for 11/23/22

On:  Wednesday, 11/30/22, at 4:05pm ET   ·   For:  11/23/22   ·   Accession #:  1213900-22-76365   ·   File #:  1-38213

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/30/22  Arcimoto Inc.                     8-K:3      11/23/22   10:185K                                   EdgarAgents LLC/FA

Current Report   —   Form 8-K

Filing Table of Contents

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‘8-K’   —   Current Report


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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM  i 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  i November 23, 2022

 

 i ARCIMOTO, INC.

(Exact name of registrant as specified in its charter)

 

 i Oregon

(State or other jurisdiction of incorporation)

 

 i 001-38213    i 26-1449404
(Commission   (IRS Employer
File Number)   Identification No.)

 

 i 2034 West 2nd Avenue,  i Eugene,  i OR  i 97402

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code ( i 541)  i 683-6293

 

(Former name or former address, if changed since last report.)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 i Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 i Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 i Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 i Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
 i Common stock, no par value    i FUV    i Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  i 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  i  

 

 C: 

 

Item 3.01 Notice of Delisting of Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 23, 2022, Arcimoto, Inc. (the "Company") received a letter from the Listing Qualifications Staff (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") indicating that the bid price of the Company's common stock, no par value (the "Common Stock"), had closed below $1.00 per share for 30 consecutive business days and, as a result, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), which sets forth the minimum bid price requirement for continued listing (the "Minimum Bid Requirement"). Nasdaq's notice had no immediate effect on the listing of the Company's Common Stock on Nasdaq.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days to regain compliance with the Minimum Bid Requirement. To regain compliance, the closing bid price of the Company's Common Stock must be at least $1.00 per share for a minimum of ten consecutive business days during this 180-day period, at which time the Staff will provide written notification to the Company that it complies with the Minimum Bid Requirement, unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(G).

As previously disclosed, on November 29, 2022, the Company completed its reverse stock split whereby each twenty (20) shares of outstanding Common Stock were converted into one (1) share of Common Stock (the “Reverse Stock Split”), The Company expects that the Reverse Stock Split will have the effect of remedying the bid price deficiency to regain compliance with the Minimum Bid Requirement. The Company intends to closely monitor the closing bid price of the Common Stock and consider all available options to remedy the bid price deficiency to regain compliance with the Minimum Bid Requirement.

 C: 

 

 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ARCIMOTO, INC.
     
Date: November 30, 2022 By: /s/ Jesse Fittipaldi
    Jesse Fittipaldi
    Chief Executive Officer

 

 C: 

 

 

 C: 

Dates Referenced Herein

This ‘8-K’ Filing    Date    Other Filings
Filed on:11/30/22None on these Dates
11/29/22
For Period end:11/23/22
 List all Filings 


2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/19/23  Arcimoto Inc.                     424B5                  1:517K                                   EdgarAgents LLC/FA
 1/17/23  Arcimoto Inc.                     424B5                  1:469K                                   EdgarAgents LLC/FA
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