Sono Group receives Nasdaq notification regarding minimum bid price deficiency

The solar tech company Sono Group announced that on 20 March 2023, it received a letter from the Listings Qualifications Department of The Nasdaq Stock Market LLC notifying the company that the minimum closing bid price per share of its common shares was below $1.00 for a period of 30 consecutive business days and that the company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1). This current report is filed pursuant to Nasdaq Listing Rule 5810(b). The Nasdaq notification letter does not affect the company’s business operations and, for now, it does not result in the delisting of the company’s common shares. The shares will continue to trade uninterrupted under the symbol "SEV".