SPI Energy Co., Ltd. Announces Receipt of Delinquency Notice From NASDAQ
December 17 2018 - 4:50AM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of renewable energy solutions and crypto-miner
hosting services for residential, commercial and utility customers,
today announced that it received a notification letter (the
“Notice”) from the Listing Qualifications Department of The Nasdaq
Stock Market Inc. (“Nasdaq”) on December 12, 2018 indicating that
the Company is not in compliance with NASDAQ Listing Rule
5450(b)(3)(C) (the “Rule”) for continued listing because the market
value of its publicly held shares was less than $15 million.
Normally, a company that fails to comply with
the Rule would be eligible for a 180 day compliance period.
However, in its November 19, 2018 decision, the Nasdaq Hearings
Panel (the “Panel”) determined to impose a Panel Monitor lasting
through 2019. The Panel noted that if at any time during the
monitor period the Company fails any listing standard, Nasdaq would
issue a delisting determination and the hearings department would
schedule a new hearing. Therefore, the Company is not eligible for
the 180 day compliance period and the Panel will notify the Company
of its newly scheduled hearing date in the coming days.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of
renewable energy solutions and crypto-miner hosting services for
residential, commercial and utility customers. SPI Energy focuses
on the EPC/BT, and storage markets including the development,
financing, installation, operation and sale of utility-scale and
residential PV projects in Japan, Europe and North America. The
company operates a B2B E-Commerce platform offering a range of PV,
storage products in Australia as well as a turnkey solution
(umining.io) offering global crypto-mining training, sale, hosting
and repair service. The Company has its operating headquarters in
Hong Kong and Santa Clara, California and maintains global
operations in Asia, Europe, North America and Australia.
For additional information, please visit:
http://www.spigroups.com/investorrelations/overview
For investors and media inquiries please
contact:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com
Source: SPI Energy Co., Ltd.
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Aug 2024 to Sep 2024
SPI Energy (NASDAQ:SPI)
Historical Stock Chart
From Sep 2023 to Sep 2024