TerraForm Power Announces Extension Until June 30, 2017 to Regain Nasdaq Compliance
March 21 2017 - 9:00AM
TerraForm Power, Inc. (Nasdaq:TERP) (“TerraForm Power” or the
“Company”), an owner and operator of clean energy power plants,
announced today that the Nasdaq Hearings Panel granted the Company
an extension until June 30, 2017 to regain compliance with Nasdaq’s
continued listing requirements with respect to its Form 10-K for
the year ended December 31, 2016, its Form 10-Q for the first
quarter of 2017 and its delinquency in holding its annual meeting
during the year ended December 31, 2016.
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 has been granted for the Company
to regain compliance with the Nasdaq rules; the Company’s ability
and time required to regain compliance with the Nasdaq rules; and
the progress, outcome and timing of completing the delayed filings
and holding the annual meeting. 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 financial statements and the filing of its annual
and quarterly reports; whether the Nasdaq Hearings Panel will
reconsider the terms of the extension granted; whether the Nasdaq
Listing and Hearing Review Council will determine to review the
Panel’s decision; 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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