SPI Energy Co., Ltd. Announces Nasdaq's Acceptance of Its Plan to Regain Compliance
March 20 2017 - 7:30AM
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 the Nasdaq Stock Market has accepted the company's plan to
regain compliance with Nasdaq Listing Rule 5250(c)(2) which will
permit the continued listing of the Company’s American depositary
shares on the Nasdaq Global Select Market.
As previously reported on January 13, 2017, the Company received
a letter from Nasdaq stating that the Company was not in compliance
with Nasdaq listing rules because the Company had not filed its
Form 6-K for the six-month period ended June 30, 2016. In the
letter, Nasdaq requested that the Company submit a plan to regain
compliance with Nasdaq listing rules within 60 days.
On March 13, 2017, the Company submitted to Nasdaq a plan to
regain compliance with Nasdaq listing rules. After reviewing the
plan of the Company to regain compliance, Nasdaq granted an
exception to enable the Company to regain compliance with the
listing rules. Under the terms of the exception, the Company must
file its Form 6-K for the six-month period ended June 30, 2016 as
required by listing rules on or before May 15, 2017 to maintain its
listing status. In the event that the Company does not satisfy the
terms set forth in the extension, Nasdaq will provide written
notification that the securities of the Company will be delisted.
At that time, the Company may appeal Nasdaq's determination for a
panel review.
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 downstream PV
market including the development, financing, installation,
operation and sale of utility-scale and residential solar power
projects in China, Japan, Europe and North America. The Company
operates an innovative online energy e-commerce and investment
platform, www.solarbao.com, which enables individual and
institutional investors to purchase innovative PV-based investment
and other products; as well as www.solartao.com, a B2B e-commerce
platform offering a range of PV products for both upstream and
downstream suppliers and customers. 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: www.spisolar.com,
www.solarbao.com or www.solartao.com.
For investors and media inquiries please contact:
Investor Relations Department
SPI Energy Co., Ltd.
pearl.peng@spisolar.com
+852 22916057
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