| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On November 21, 2023, View, Inc. (the “Company”) received a notice (the “Notice”) from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company no longer complies with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5450(b)(1)(A) for continued listing on The Nasdaq Global Market, because the Company’s stockholders’ equity, as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, has fallen below $10 million. The Notice also indicates that the Company does not meet the alternative compliance standards set forth in Nasdaq Listing Rule 5450(b). The Notice has no immediate effect on the listing of the Company’s common shares or warrants, which will continue to trade on The Nasdaq Global Market under the symbols “VIEW” and “VIEWW”, respectively.
Under applicable Nasdaq rules, the Company has 45 calendar days from the date of the Notice, or until January 5, 2024, to submit a plan to regain compliance. If the Company’s plan is accepted, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to provide evidence of compliance. If Nasdaq determines that the Company’s plan of compliance is not sufficient, the Company will have an opportunity to appeal the decision to a Hearings Panel. There can be no assurance that, if the Company does appeal Nasdaq’s determination to the Hearings Panel, such appeal would be successful. If unsuccessful, the Company’s shares would be delisted.
The Company is in the process of reviewing and will consider all available options to regain compliance with the continued listing standards of Nasdaq. There can be no assurance that the Company will be able to regain compliance with the Nasdaq stockholders’ equity requirement or maintain compliance with the other Nasdaq listing standards.
Forward-Looking Statements
This Current Report on Form 8-K, and certain materials View files with the U.S. Securities and Exchange Commission (the “SEC”), as well as information included in oral statements or other written statements made or to be made by View, other than statements of historical fact, contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including but not limited to statements regarding View’s ability to regain compliance with the applicable Nasdaq listing standards and maintain the listing of its securities on Nasdaq. These forward-looking statements are based on current expectations, estimates, assumptions, projections and management’s beliefs, that are subject to change. There can be no assurance that these forward-looking statements will be achieved; these statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond View’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. View’s business is subject to a number of risks which are described more fully in View’s Annual Report on Form 10-K for the year ended December 31, 2022, as amended, its Quarterly Reports on Form 10-Q and in its other filings with the SEC. View undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
