TerraForm Power Announces Receipt of Nasdaq Letter
March 09 2017 - 8:45AM
TerraForm Power, Inc. (Nasdaq:TERP) (“TerraForm Power” or the
“Company”), an owner and operator of clean energy power plants,
today announced that that on March 6, 2017 it received a
notification letter from a Director of Nasdaq Listing
Qualifications (the “Notification Letter”). The Notification Letter
stated that because the Company has not yet filed its Form 10-K for
the year ended December 31, 2016 (the “2016 10-K”), the Company is
not in compliance with Nasdaq Listing Rule 5250(c)(1), which
requires timely filing of periodic reports with the Securities and
Exchange Commission.
The Notification Letter noted that on February
24, 2017, the Company filed its Form 10-Q for the period ended
September 30, 2016, and as a result regained compliance with
Listing Rule 5250(c)(1). The Notification Letter also noted that,
per listing Rule 5815(c)(1)(F), the Nasdaq Hearings Panel may grant
the Company an exception period not to exceed 360 days from the due
date of the 2016 10-K, or February 26, 2018. The Notification
Letter has no immediate effect on the listing of the Company’s
common stock on the Nasdaq Global Select Market.
About TerraForm Power
TerraForm Power is a renewable energy company
that is changing how energy is generated, distributed and owned.
TerraForm Power creates value for its investors by owning and
operating clean energy power plants. For more information about
TerraForm Power, please visit: www.terraformpower.com.
Cautionary Note Regarding
Forward-Looking Statements
This communication contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements can be identified by the fact that they
do not relate strictly to historical or current facts. These
statements involve estimates, expectations, projections, goals,
assumptions, known and unknown risks, and uncertainties and
typically include words or variations of words such as “expect,”
“anticipate,” “believe,” “intend,” “plan,” “seek,” “estimate,”
“predict,” “project,” “goal,” “guidance,” “outlook,” “objective,”
“forecast,” “target,” “potential,” “continue,” “would,” “will,”
“should,” “could,” or “may” or other comparable terms and
phrases.
Such statements include, without limitation,
statements regarding the additional time that may be granted for
the Company to regain compliance with the Nasdaq rules; the
Company’s ability and time required to regain compliance with
Nasdaq’s rules; and the progress, outcome and timing of completing
the 2016 10-K. These forward-looking statements are based on
current expectations as of the date of this press release and are
subject to known and unknown risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statements, including but not limited to: the
extent and impact of delays in the Company’s completion of its 2016
10-K; whether the Company will be granted additional time to regain
compliance with Nasdaq’s continued listing requirements; the
Company’s ability to regain compliance with Nasdaq’s continued
listing requirements; as well as additional factors we have
described in other filings with the Securities and Exchange
Commission.
The risks included above are not exhaustive.
Other factors that could adversely affect our business and
prospects are described in the filings made by us with the
Securities and Exchange Commission. The Company undertakes no
obligation to publicly update or revise any forward-looking
statement as a result of new information, future events or
otherwise, except as otherwise required by law.
Contacts
Investors:
Brett Prior
TerraForm Power
investors@terraform.com
Media:
Meaghan Repko / Joseph Sala
Joele Frank, Wilkinson Brimmer Katcher
media@terraform.com
(212) 355-4449
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