Ideanomics Announces Receipt of Notice from Nasdaq Regarding Listing Delay

New York, NY, July 02, 2024 (GLOBE NEWSWIRE) — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) announced today that on June 26, 2024, the Company received notice from the staff of the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that because the Company’s Form 10-K for the year ended December 31, 2023 reported shareholders’ equity below the $2,500,000 minimum required for continued listing, and because the Company did not meet the market value of listed securities or net income from continuing operations alternatives as of that date, the Company was no longer in compliance with Listing Rule 5550(b)(1). Accordingly, this matter provides additional grounds for the delisting of the Company’s securities from The Nasdaq Stock Market.

The Nasdaq Hearings Panel (the “Panel”) will consider this issue in its decision regarding the Company’s continued listing on the Nasdaq Capital Market and the Company must submit its views regarding this additional deficiency to the Panel in writing no later than July 3, 2024.

The company is working diligently to regain compliance and will provide an update as more information becomes available.

About Ideanomics

Ideanomics (NASDAQ: IDEX) is a global company with a simple mission: to accelerate the commercial adoption of electric vehicles. By combining vehicle and charging technology with design, implementation and financial services, we provide solutions that enable the commercial world to embrace an electric vehicle future. To stay up-to-date with Ideanomics, follow the company on social media @ideanomicshq or visit: https://ideanomics.com.

Safe Harbor Statement

All statements contained in this press release that are not statements of historical fact may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the anticipated timing of the filing of Form 10-K, the Company’s ability to comply with Nasdaq’s requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions that involve known and unknown risks and uncertainties. All forward-looking statements contained herein are based on current expectations but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties related to the Company’s failure to file Form 10-K on time and other risk factors discussed from time to time in the Company’s filings with the SEC. These and other factors are identified and described in more detail in the Company’s filings with the SEC, including, without limitation, the Company’s most recent Forms 10-K and 10-Q. The Company expressly disclaims any intention or obligation to update these forward-looking statements other than as required by law.

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Contacts:

Ideanomics, Inc.

Tony Sklar, Senior Vice President of Investor Relations

1441 Broadway, Suite 5116, New York, NY 10018

[email protected]