8-KThe Red FlagsRed Alert
Delisting Notice · Reg FD Disclosure
Filed Apr 29, 2025 · 1y ago · Accession 0001641172-25-006556
Plain English
Material event — a significant development the company must disclose promptly.
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Filing text
View original ↗UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): April 23, 2025
AGEAGLE
AERIAL SYSTEMS INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
001-36492
88-0422242
(State
or other jurisdiction
of
incorporation)
(Commission
File
Number)
(IRS
Employer
Identification
No.)
8201
E. 34th Cir N , Suite 1307 , Wichita , Kansas
67226
(Address
of principal executive offices)
(Zip
Code)
Registrant’s
telephone number, including area code: (620) 325-6363
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol(s)
Name
of each exchange on which registered
Common
Stock
UAVS
NYSE
American
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
April 23, 2025, AgEagle Aerial Systems Inc. (the “Company”) received a notification (“Letter”) from The NYSE
American LLC (the “NYSE American”) stating that the Company is not in compliance with the minimum stockholders’ equity
requirements of Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide (the “Company Guide”)
requiring stockholders’ equity of (i) $2.0 million or more if the Company has reported losses from continuing operations and/or
net losses in two of its three most recent fiscal years, (ii) $4.0 million or more if the Company has reported losses from continuing
operations and/or net losses in three of the four most recent fiscal years and (iii) $6.0 million or more if the Company has reported
losses from continuing operations and/or net losses in its five most recent fiscal years, respectively. As of December 31, 2024, the
Company had stockholders’ deficit of $5.7 million and has had losses in the most recent five fiscal years ended December 31, 2024.
The
Company is now subject to the procedures and requirements of Section 1009 of the Company Guide. The Company has until May 23, 2025 to
submit a plan (the “Plan”) of actions it has taken or will take to regain compliance with the continued listing standards
by October 23, 2026, which is eighteen months from receipt of the Letter (“Cure Period”). The Company intends to submit the
Plan to regain compliance with NYSE American listing standards, however there can be no assurance that the Company will be able to achieve
compliance with such standards within the Cure Period. If the NYSE American accepts the Plan, the Company will be able to continue its
listing during the Cure Period and will be subject to periodic reviews including quarterly monitoring for compliance with the Plan until
it has regained compliance. If the Plan is not accepted by the NYSE American, the Letter states that delisting proceedings will commence.
The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.
The
notice has no immediate impact on the listing of the Company’s shares of common stock, which will continue to be listed and traded
on the NYSE American, subject to the Company’s compliance with the other listing requirements of the NYSE American. The notice
does not affect the Company’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission.
Item
7.01. Regulation FD Disclosure.
A
copy of the Company’s press release with respect to the Company’s receipt of the Letter is attached hereto as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated by reference in this Item 7.01.
The
information provided in Item 7.01 of this report, including Exhibit 99.1, shall not be deemed “filed” for any purpose, nor
shall the information or Exhibit 99.1 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
Number
Description
99.1
Press Release dated April 29, 2025.
104
Cover
Page Interactive Data File (embedded within the Inline XBRL document).
Forward-Looking
Statements
This
Current Report on Form 8-K contains “forward-looking” statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of historical fact, contained in this Current Report on Form 8-K are forward-looking
statements. Forward-looking statements contained in this Current Report on Form 8-K may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“suggest,” “target,” “aim,” “should,” “will,” “would,” or the
negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking
statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that
are difficult to predict, including with respect to the Company’s plans related to regaining compliance with the NYSE American’s
continued listing standards. Further, certain forward-looking statements are based on assumptions as to future events that may not prove
to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to the business of the Company in general, see the risk disclosures in the
Annual Report on Form 10-K of the Company for the year ended December 31, 2024, and in subsequent reports on Forms 10-Q and 8-K and other
filings made with the Securities and Exchange Commission by the Company. All such forward-looking statements speak only as of the date
they are made, and the Company undertakes no obligation to update or revise these statements, whether as a result of new information,
future events or otherwise.
SIGNATURES
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 hereunto duly authorized.
Dated:
April 29, 2025
AGEAGLE
AERIAL SYSTEMS INC.
By:
/s/
William Irby
Name:
William
Irby
Title:
Chief
Executive Officer
Filing details
- Company
- AgEagle Aerial Systems Inc.
- Ticker
- UAVS
- CIK
- 8504
- Form type
- 8-K
- Filing date
- Apr 29, 2025
- Report date
- Apr 23, 2025
- Document
- form8-k.htm
- Size
- 234 KB