Cn Energy Group. Inc 6-K, filed Oct 11, 2024
Cn Energy Group. Inc. (CNEY)
About this 6-K
Cn Energy Group. Inc filed this 6-K on October 11, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Month of October 2024
Commission file number: 001-39978
| CN ENERGY GROUP. INC. |
Building 2-B, Room 206, No. 268 Shiniu Road
Liandu District, Lishui City, Zhejiang Province
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
As previously reported, on September 6, 2024, CN Energy Group. Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the preceding 30 consecutive business days, the Company’s Class A Ordinary Shares (the “Class A Ordinary Shares”) did not meet the minimum $1,000,000 Market Value of Publicly Held Shares (“MVPHS”) requirement (the “MVPHS Requirement”) for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(5) (the “Rule”). The Company was provided a period of 180 calendar days, or until March 5, 2025 (the “Compliance Date”) to regain compliance with the MVPHS Requirement.
On October 9, 2024, the Company received written notice from the Staff of Nasdaq notifying the Company that, for more than the last ten (10) consecutive business days, from September 25, 2024, through October 8, 2024, the MVPHS of the Company’s Class A Ordinary Share has been $1,000,000 or greater. Accordingly, the written notice stated that the Company has regained compliance with the MVPHS Requirement set forth under the Rule.
On October 11, 2024, the Company issued a press release announcing that it regained compliance with Nasdaq listing requirements. A copy of that press release is attached as Exhibit 99.1 hereto.
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EXHIBITS
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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| Date: October 11, 2024 | By: | /s/ Wenhua Liu | |
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| Name: | Wenhua Liu | |
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| Title: | Interim Chief Executive Officer | |
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EXHIBIT 99.1
CNEY Regains Compliance with Nasdaq Minimum Market Value of Publicly Held Shares Requirement
LISHUI, China, October 11, 2024 /PRNewswire/ -- CN Energy Group. Inc. (the “Company”; NASDAQ: CNEY), today announced that on October 9, 2024, Company received a written notice from Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the minimum market value of publicly held shares (“MVPHS”) requirement (the “MVPHS Requirement”) under Nasdaq Listing Rule 5550(a)(5) (the “Rule”).
The Company was previously notified by Nasdaq on September 6, 2024, that it was not in compliance with the MVPHS requirement because its Class A ordinary share had failed to maintain a MVPHS of $1,000,000 over the previous 30 consecutive trading days as required by the Nasdaq Capital Market under the Rule. In order to regain compliance with the Rule, the Company was required to maintain a minimum MVPHS of $1,000,000 or more for at least 10 consecutive trading days. The staff of Nasdaq has determined that for the last 10 consecutive business days, from September 25 through October 8, 2024, the Company’s MVPHS has been $1,000,000 or greater. Accordingly, the Company has regained compliance with the Rule.
About CN Energy Group. Inc.
CN Energy Group. Inc. is currently listed on the Nasdaq Capital Market under the symbol of CNEY. With patented proprietary bioengineering and physiochemical technologies, the Company has pioneered and specialized in producing high-quality recyclable activated carbon and renewable energy from abandoned forest and agricultural residues, converting harmful wastes into invaluable wealth and delivering significant financial, economic, environmental and ecologic benefits. The Company's products and services have been widely used by food and beverage producers, industrial and pharmaceutical manufacturers, as well as environmental protection enterprises. For more information, please visit the Company's website at www.cneny.com.
Forward-Looking Statements
Certain statements, other than statements of historical facts, made in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the further spread of the COVID-19 virus or new variants thereof, or the occurrence of another wave of cases and the impact it may have on the Company's operations and the demand for the Company's products, and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial conditions, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will, " "expect, " "anticipate, " "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to refer to its filings with SEC, including without limitation, Company's registration statements and other filings with the SEC that set forth certain risks and uncertainties that may have an impact on future results and directions of the Company.