SPI Energy Co., Ltd. Announces Receipt of Delinquency Notice From NASDAQ
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI),
a global provider of green energy solutions for business,
residential, government, 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 23, 2020 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 (“MVPHS”) was less than $15 million.
The rules also provided that the Company has a compliance period
of 180 calendar days, or until September 21, 2020 (the “Compliance
Period”), to regain compliance.
If at any time during the Compliance Period, the Company’s MVPHS
closes at $15,000,000 or more 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 19, 2020, the Company will receive written notification
that its securities are subject to delisting.
About SPI Energy Co., Ltd.
SPI Energy is a global provider of photovoltaic (“PV”) solutions
for business, residential, government and utility customers and
investors. The Company develops solar PV projects that are either
sold to third party operators or owned and operated by the Company
for selling of electricity to the grid in multiple countries in
Asia, North America and Europe. The Company’s subsidiary in
Australia primarily sells solar PV components to retail customers
and solar project developers. The Company has its operating
headquarter in Hong Kong and its U.S. office in Santa Clara,
California. The Company maintains global operations in Asia,
Europe, North America and Australia.
For inquiries, please contact:
SPI Energy Co., Ltd.
RedChip Companies Bruce Haase (407) 712-8965