Exhibit 99.1
FOR IMMEDIATE RELEASE
FISKER RECEIVES CONTINUED LISTING
STANDARD NOTICE FROM NYSE
| • | | The Company’s common stock continues to trade on the NYSE under symbol “FSR” |
LOS ANGELES (February 16, 2024) – Fisker Inc. (NYSE: FSR) (“Fisker” or the “Company”), driven by a mission to create the world’s most emotional and sustainable electric vehicles, announced that on February 15, 2024, it received notice from the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s common stock was less than $1.00 per share over a consecutive 30 trading-day period.
The NYSE notice does not result in the immediate delisting of the Company’s common stock from the NYSE.
In accordance with applicable NYSE rules, the Company intends to notify the NYSE within 10 business days of its intent to regain compliance with Rule 802.01C and return to compliance with the applicable NYSE continued listing standards.
The Company can regain compliance at any time within a six-month cure period following its receipt of the NYSE notice if, on the last trading day of any calendar month during such cure period, the Company has both: (i) a closing share price of at least $1.00 and (ii) an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of the applicable calendar month.
The Company intends to remain listed on the NYSE and is considering all available options to regain compliance with the NYSE’s continued listing standards, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting of stockholders.