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Capstone Green Energy Corporation - CGRN STOCK NEWS

Welcome to our dedicated page for Capstone Green Energy Corporation news (Ticker: CGRN), a resource for investors and traders seeking the latest updates and insights on Capstone Green Energy Corporation stock.

Capstone Green Energy Corporation (NASDAQ: CGRN) is a pioneering force in the development and manufacturing of clean and green microturbine power generation systems. Formerly known as Capstone Turbine Corporation, Capstone Green Energy has established itself as the world's leading provider of high-efficiency air bearing turbine technology.

Headquartered in Los Angeles, California, the company has successfully shipped thousands of microturbines to customers across the globe. These innovative and award-winning systems boast millions of documented runtime operating hours and adhere strictly to current and future emissions regulations. With an extensive network of over 86 distributors worldwide, Capstone provides low-emission microturbines that serve a variety of vertical markets with unmatched reliability and efficiency.

Capstone Green Energy's product lineup includes scalable solutions ranging from 30kW to 30MW, capable of operating on a diverse array of gaseous or liquid fuels. This versatility makes Capstone’s microturbines an ideal solution for today's distributed generation needs. The company is also a proud member of the U.S. Environmental Protection Agency’s Combined Heat and Power Partnership, demonstrating its commitment to improving energy efficiency and environmental performance.

However, recent developments have presented significant challenges for Capstone. On September 29, 2023, the company announced its filing for Chapter 11 bankruptcy protection. Additionally, the company received a delisting notice from the Nasdaq Stock Market due to non-compliance with Listing Rule 5550(b)(2), effective October 5, 2023. Capstone Green Energy's stock is currently trading at $0.50.

The Law Firm of KlaymanToskes has offered recovery options for investors who suffered losses due to their broker or investment advisor’s recommendations regarding Capstone Green Energy. Investors are encouraged to contact the firm for a free and confidential consultation to discuss recovery options.

Rhea-AI Summary
The Law Firm of KlaymanToskes is investigating brokerage firms that sold positions in Capstone Green Energy Corporation and failed to disclose known risks to investors, following the company's announcement of chapter 11 bankruptcy protection. Capstone Green Energy is currently trading at $0.50 and will be delisted from The Nasdaq Capital Market on October 5, 2023. Brokerage firms may be liable for investor losses. Investors should contact attorney Lawrence L. Klayman, Esq. for recovery options.
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Capstone Green Energy Corporation has initiated a prepackaged restructuring process with support from Goldman Sachs Specialty Lending Group and Broad Street Credit Holdings. The restructuring aims to significantly reduce Capstone's debt burden and inject additional liquidity into its operations. Upon emergence, the company's pre-petition debt and accrued interest of over $56.0 million will decrease to $25.0 million, resulting in improved financial health. Capstone has secured a commitment for $12.0 million in new money debtor-in-possession financing, which will provide liquidity to support continued operations during the Chapter 11 process. The restructuring is expected to be completed within 45 days. However, the company's securities are expected to be delisted from The Nasdaq Capital Market due to non-compliance with Nasdaq Listing Rule 5550(b)(2) for the market value of listed securities. The common stock may be quoted and traded on an over-the-counter market following delisting.
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Capstone Green Energy (NASDAQ: CGRN) received a notice of non-compliance from Nasdaq for failing to timely file its Annual Report and Quarterly Report. The company also did not meet the minimum bid price requirement and the minimum market value of listed securities. It has been given a period of 180 calendar days to regain compliance.
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Capstone Green Energy Corp (CGRN) received a notice of non-compliance from Nasdaq for not filing timely reports. The notice does not affect stock listing or trading. CGRN has 60 days to submit a plan to regain compliance. The company also received a notice for not meeting the minimum market value requirement.
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Darren Jamison resigns as President and CEO of Capstone Green Energy (NASDAQ: CGRN). Robert Flexon appointed as Interim President and CEO. Board initiating search for permanent CEO.
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FAQ

What is the market cap of Capstone Green Energy Corporation (CGRN)?

The market cap of Capstone Green Energy Corporation (CGRN) is approximately 6.8M.

What does Capstone Green Energy Corporation do?

Capstone Green Energy Corporation develops and manufactures clean microturbine power generation systems, providing scalable solutions from 30kW to 30MW.

Where is Capstone Green Energy Corporation headquartered?

Capstone Green Energy Corporation is headquartered in Los Angeles, California.

What recent financial challenges has Capstone faced?

Capstone recently filed for Chapter 11 bankruptcy protection and received a delisting notice from Nasdaq due to non-compliance with Listing Rule 5550(b)(2).

What fuels can Capstone’s microturbines operate on?

Capstone’s microturbines can operate on a variety of gaseous or liquid fuels.

How many distributors does Capstone have worldwide?

Capstone has over 86 distributors worldwide.

What is the trading symbol for Capstone Green Energy Corporation?

The trading symbol for Capstone Green Energy Corporation is CGRN.

What market is Capstone’s stock listed on?

Capstone’s stock is listed on the Nasdaq Capital Market.

When did Capstone Green Energy Corporation begin trading on Nasdaq?

Capstone Green Energy Corporation began trading on Nasdaq on April 22, 2021.

What is the role of KlaymanToskes with respect to Capstone investors?

KlaymanToskes offers recovery options for investors who suffered losses due to broker or investment advisor recommendations regarding Capstone.

Is Capstone involved in any environmental initiatives?

Yes, Capstone is a member of the U.S. Environmental Protection Agency’s Combined Heat and Power Partnership, committed to improving energy efficiency.

Capstone Green Energy Corporation

Nasdaq:CGRN

CGRN Rankings

CGRN Stock Data

6.79M
16.19M
3.74%
17.27%
2.69%
Specialty Industrial Machinery
Industrials
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United States
Van Nuys