Revolution Lighting Receives Temporary Stay of Delisting from Nasdaq
May 24 2019 - 9:22AM
Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) (“Revolution
Lighting” or the “Company”), a global provider of advanced LED
lighting solutions, announced today that on May 22, 2019, the
Company received a letter from the Nasdaq Hearings Panel (the
“Panel”) of The Nasdaq Stock Market (“Nasdaq”) informing the
Company that the Panel has granted the Company’s request to stay
the suspension of the Company’s securities from Nasdaq pending a
final determination from the Panel regarding the Company’s listing
status. A final listing determination will be made after the
Company’s hearing before the Panel, which hearing is scheduled for
June 6, 2019.
As previously disclosed, the Company received a delisting
determination letter from Nasdaq, informing the Company that since
it has been unable to file certain prior Securities Exchange
Commission (“SEC”) reports (the “Delayed Reports”), the Company’s
common stock is subject to delisting from Nasdaq. Nasdaq Listing
Rule 5250(c)(1) requires listed companies to timely file all
required periodic financial reports with the SEC.
As previously disclosed in the Company’s Form 8-K filed on
January 4, 2019, Nasdaq has also notified the Company that it
is not in compliance with Nasdaq Listing Rule 5550(a)(2), which
requires the Company to maintain a minimum bid price of at least
$1.00 per share.
About Revolution Lighting
Revolution Lighting Technologies, Inc. is a leader in the
design, manufacture, marketing, and sale of LED lighting solutions
focusing on the industrial, commercial and government markets in
the United States, Canada, and internationally. Through advanced
LED technologies, Revolution Lighting has created an innovative
lighting company that offers a comprehensive advanced product
platform of high-quality interior and exterior LED lamps and
fixtures, including signage and control systems. Revolution
Lighting is uniquely positioned to act as an expert partner,
offering full service lighting solutions through our operating
divisions including Energy Source, Multi-Family and Tri-State LED
to transform lighting into a source of superior energy savings,
quality light and well-being. Revolution Lighting Technologies
markets and distributes its products through a network of regional
and national independent sales representatives and distributors, as
well as through energy savings companies and national accounts.
Revolution Lighting Technologies trades on the Nasdaq Capital
Market under the ticker RVLT. For more information, please visit
rvlti.com and connect with the Company on Twitter, LinkedIn and
Facebook.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed
herein are “forward-looking statements” within the meaning of the
applicable securities laws and regulations. The words “will,”
“may,” “estimates”, “expects,” “intends,” “believes” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Forward-looking statements, including statements
regarding when the Company will file the Delayed Reports and
whether the Company will regain compliance with Nasdaq’s continued
listing requirements, involve risks and uncertainties that may
cause actual results to differ materially from those stated here.
Factors that could cause actual results to differ materially from
those in the forward-looking statements include, but are not
limited to, the risk that the Audit Committee investigation or the
restatement will not be timely completed and the other risks
described more fully in the Company’s filings with the SEC.
Forward-looking statements reflect the views of the Company’s
management as of the date hereof. The Company does not undertake to
revise these statements to reflect subsequent developments.
RVLT Investor Relations Contact: Amato and Partners, LLC
Investor Relations Counsel admin@amatoandpartners.com
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