SPI Energy Co., Ltd. Announces Receipt of Minimum Bid Price Notice From NASDAQ
March 19 2018 - 5:00AM
SPI Energy Co., Ltd. (“SPI Energy” or the “Company”)
(Nasdaq:SPI), a global clean energy market place for business,
residential, government and utility customers and investors, today
announced that it received a notification letter (the “Notice”)
from the Listing Qualifications Department of The Nasdaq Stock
Market Inc. (“Nasdaq”) on March 14, 2018, notifying the
Company that the minimum bid price per ordinary share was below
$1.00 for a period of 30 consecutive business days and, therefore,
that the Company did not meet the minimum bid price requirement set
forth in Rule 5450(a)(1) of the Nasdaq Listing Rules.
Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing
Rules, the Company has a compliance period of 180 calendar days, or
until September 10, 2018 (the “Compliance Period”), to regain
compliance with Nasdaq’s minimum bid price requirement. If at any
time during the Compliance Period, the closing bid price per share
is at least $1.00 for a minimum of 10 consecutive business days,
Nasdaq will provide the Company a written confirmation of
compliance and the matter will be closed.
In the event that the Company does not regain compliance by
September 10, 2018, the Company may be eligible for an additional
180 calendar day compliance period if it transfers to the Nasdaq
Capital Market (assuming that it meets the initial listing
requirements, with the exception of the minimum bid price
requirement) and provides written notice to Nasdaq of its intention
to cure the deficiency. Any such transfer would be subject to
the determination by the staff of Nasdaq that the Company would be
able to cure the deficiency in such additional period.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV)
solutions for business, residential, government and utility
customers and investors. SPI Energy focuses on the EPC/BT, storage
and O2O PV market including the development, financing,
installation, operation and sale of utility-scale and residential
PV projects in China, Japan, Europe and North America. The Company
operates an online energy e-commerce and investment platform in
China, as well as B2B e-commerce platform offering a range of PV
and storage products in Australia. The Company has its operating
headquarters in Hong Kong and maintains global operations in Asia,
Europe, North America and Australia.
For additional information, please visit:
http://investors.spisolar.com.
For investors and media inquiries please
contact:
SPI Energy Co., Ltd.IR DepartmentEmail: ir@spisolar.com
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