Tempo Automation Holdings Inc

Tempo Automation Holdings, Inc. operates as an electronics manufacturer. It manufactures printed circuit boards, serving the industrial tech, medical technology, and space industries. Its electronics manufacturing platform takes a different approach to deliver quality, speed, and agility using all-digital process automation, data-driven intelligence, and a connected smart factory. The company is headquartered in San Francisco, CA.

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Tempo Automation Holdings, Inc. operates as an electronics manufacturer. It manufactures printed circuit boards, serving the industrial tech, medical technology, and space industries. Its electronics manufacturing platform takes a different approach to deliver quality, speed, and agility using all-digital process automation, data-driven intelligence, and a connected smart factory. The company was founded on November 22, 2022 and is headquartered in San Francisco, CA.

Tempo Automation (NASDAQ: TMPO ) stock is falling on Tuesday as investors prepare for the electronics manufacturing company's shares to be delisted. According to a press release from Tempo Automation, shares of TMPO stock will be delisted from the Nasdaq Stock Market on Thursday.

Why Is Tempo Automation (TMPO) Stock Down 23% Today?

SAN FRANCISCO, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO) (the “Company”) announced today that on October 24, 2023, the Company received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”). As previously disclosed, on April 24, 2023, Nasdaq had notified the Company that the market value of its listed securities had been below the minimum $50,000,000 required for continued listing as set forth in Listing Rule 5450(b)(2)(A) (the “Market Value Rule”) for the previous 30 consecutive trading days and, in accordance with Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until October 23, 2023, to regain compliance with the Market Value Rule. Additionally, on August 17, 2023, Nasdaq had notified the Company that it had not filed its Form 10-Q for the period ended June 30, 2023, and as a result, failed to comply with Nasdaq's filing requirement for continued listing as set forth in Listing Rule 5250(c)(1) (the “Delinquency Rule”). As a result, the Company was required to submit its plan to regain compliance with the Delinquency Rule by October 26, 2023. In its October 24 letter, Nasdaq notified the Company that, pursuant to Listing Rule 5810(d)(2), these deficiencies serve as additional and separate bases for delisting, and as a result, the Company's securities will be delisted from The Nasdaq Global Market. Unless the Company requests an appeal of this determination as described below, trading of the Company's common stock and warrants will be suspended at the opening of business on November 2, 2023, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company does not intend to appeal Nasdaq's determination.

Tempo Automation Holdings, Inc. Announces Commencement of Nasdaq Delisting Proceedings

SAN FRANCISCO, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, the “Company”) has received a default notice from its senior lender consortium.  As previously disclosed, Tempo Automation, Inc. (“Tempo OpCo”), a Delaware corporation and wholly owned subsidiary of the Company, previously entered into that certain First Amended and Restated Loan and Security Agreement, dated as of November 22, 2022 (as amended, the “Loan Agreement”) by and among Tempo OpCo, Structural Capital Investments III, LP (“SCI”), Series Structural DCO II series of Structural Capital DCO, LLC (“DCO”), CEOF Holdings LP (“CEOF”), SQN Tempo Automation, LLC (“SQNTA”), SQN Venture Income Fund II, LP (“SQNVIFII” and, together with SCI, DCO, CEOF and SQNTA, the “Lenders”), and Ocean II PLO LLC, as administrative and collateral agent for the Lenders (the “Agent”), and that certain Forbearance Agreement and First Amendment to First Amended and Restated Loan and Security Agreement, dated as of June 20, 2023 (the “Forbearance”), by and among the Company, Tempo OpCo, the Lenders, and the Agent. The Loan Agreement is secured by the assets of Tempo OpCo and its subsidiaries (the “Collateral”), and the Company is a party to the Loan Agreement and has guaranteed Tempo OpCo's obligations thereunder. The Loan Agreement and Forbearance were attached as exhibits to the Company's Current Reports on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 6, 2022 and June 21, 2023, respectively.

Tempo Automation Holdings, Inc. Receives a Default Notice From its Senior Lender Consortium

SAN FRANCISCO, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, the “Company”), a leading software-accelerated electronics manufacturer, today announced that it had received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because the Company has not yet filed its Form 10-Q for the period ended June 30, 2023 (the “Filing”), the Company no longer meets the requirements for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5250(c)(1) (the “Periodic Filing Rule”). The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities.

Tempo Automation Receives Nasdaq Notification of Noncompliance with Listing Rule 5250(c)(1)

SAN FRANCISCO, June 21, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo” or the “Company”), a leading software-accelerated electronics manufacturer, today announced the successful execution of a $7.0 million unsecured subordinated convertible promissory note (the “Convertible Promissory Note”) with Asia-IO Advanced Manufacturing Partners, L.P. (“Asia-IO”), a cross-border private equity fund specializing in advanced manufacturing and industrial technology opportunities.

Tempo Automation Secures $7.0M Convertible Promissory Note Facility Strengthening Financial Position and Providing Capital for Optimum Acquisition

SAN FRANCISCO, May 15, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo”), a leading software-accelerated electronics manufacturer, announced today its financial results for the first quarter of 2023.

Tempo Automation Announces First Quarter Financial Results

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Tempo Automation (NASDAQ: TMPO ) stock is soaring higher on Monday after the company selected its next independent registered public accounting firm. The company chose WithumSmith+Brown PC to act as its independent registered public accounting firm for its fiscal 2023 year.

Why Is Tempo Automation (TMPO) Stock Up 114% Today?

SAN FRANCISCO, March 27, 2023 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (NASDAQ: TMPO, “Tempo Automation” or “Tempo”), a leading software-accelerated electronics manufacturer, announced today that it has entered into a definitive agreement to acquire Optimum Design Associates, Inc. and Optimum Design Associates Pty. Ltd. (collectively “Optimum” or “Optimum Design Associates”), a fast-growing electronic design services company with offices in the United States and Australia that has delivered over 10,000 printed circuit board (PCB) designs to blue-chip customers. By vertically integrating electronic design and manufacturing, Tempo expects to be able to engage with customers even earlier in their product design process, streamlining the hardware development journey and providing a more efficient and faster way to get electronic products to market. The anticipated benefits of the acquisition include access to Optimum's experienced engineering team and cross-selling opportunities to expand the customer base. The transaction is expected to close in the second quarter of this year.

Tempo Automation Announces Definitive Agreement to Acquire Optimum Design Associates Extending Its Accelerated Manufacturing Platform to Electronic Design Services

Tempo offers enhanced supply chain management services Tempo offers enhanced supply chain management services

Tempo Automation Addresses Electronics Manufacturing Supply Chain Challenges with New Inventory Management Tools

Tempo Automation (NASDAQ: TMPO ) stock is sliding on Friday after the stock saw a rally yesterday on analyst coverage. That came from Northland Securities, which initiated its coverage of TMPO stock with an “outperform” rating.

Why Is Tempo Automation (TMPO) Stock Down 17% Today?

SAN FRANCISCO, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (Nasdaq: TMPO, “Tempo”, or the “Company”), a leading software-accelerated electronics manufacturer, is providing commentary on its previously issued financial results for the three and nine-month periods ended September 30, 2022 and 2021 and is updating its guidance for anticipated annual 2022 and 2023 results.

Tempo Provides Third Quarter 2022 Financial and Operational Results Commentary and 2022 and 2023 Guidance

SAN FRANCISCO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Tempo Automation Holdings, Inc. (Nasdaq: TMPO) (“Tempo Automation” or “Tempo”) announced today that Blur Product Development (“Blur”), a leading medical device design and development partner, has elected to leverage Tempo's Accelerated Electronics Manufacturing Platform to speed up product development timelines for its clients.

Tempo Automation Helps Blur Product Development Bring Products to Market Faster

ACE Convergence Acquisition Corp.

SAN FRANCISCO, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Tempo Automation , Inc., a leading software-accelerated electronics manufacturer, today announced that it completed its business combination with ACE Convergence Acquisition Corp. (“ACE”) (Nasdaq: ACEV), a special purpose acquisition company traded on Nasdaq. ACE's shareholders approved the business combination at an extraordinary general meeting held on November 17, 2022.

ACE Convergence Acquisition Corp. and Tempo Automation, Inc. Announce Closing of Business Combination; Tempo Automation Holdings, Inc. to Trade on Nasdaq Under Ticker Symbols "TMPO" and “TMPOW”

News for Tempo Automation Holdings Inc Stock (TMPO)