Sunnova Receives Continued Listing Notice from NYSE
Sunnova Energy (NYSE: NOVA) has received a notification from the NYSE on April 1, 2025, indicating non-compliance with continued listing standards. The company's stock has fallen below the required average closing share price of $1.00 over a 30-day trading period.
The company has a six-month cure period to regain compliance by achieving a closing price and 30-day average closing price of at least $1.00. During this period, NOVA will continue trading on NYSE with a '.BC' suffix indicating below compliance status.
To address this issue, Sunnova is considering various options, including a potential reverse stock split, subject to board and shareholder approval. The notice does not impact business operations, SEC reporting requirements, or trigger violations under existing debt agreements.
Sunnova Energy (NYSE: NOVA) ha ricevuto una notifica dalla NYSE il 1 aprile 2025, che indica la non conformità agli standard di quotazione continuativa. Il prezzo delle azioni della società è sceso al di sotto del prezzo medio di chiusura richiesto di $1.00 durante un periodo di trading di 30 giorni.
La società ha un periodo di sei mesi per rimediare e riconquistare la conformità raggiungendo un prezzo di chiusura e un prezzo medio di chiusura di almeno $1.00. Durante questo periodo, NOVA continuerà a essere quotata sulla NYSE con un suffisso '.BC' che indica uno stato di non conformità.
Per affrontare questa situazione, Sunnova sta considerando varie opzioni, inclusa una possibile fusione inversa delle azioni, soggetta all'approvazione del consiglio e degli azionisti. La notifica non influisce sulle operazioni aziendali, sui requisiti di reporting della SEC o attiva violazioni ai sensi degli accordi di debito esistenti.
Sunnova Energy (NYSE: NOVA) ha recibido una notificación de la NYSE el 1 de abril de 2025, indicando el incumplimiento de los estándares de cotización continua. El precio de las acciones de la compañía ha caído por debajo del precio medio de cierre requerido de $1.00 durante un período de negociación de 30 días.
La compañía tiene un período de seis meses para corregir la situación y recuperar la conformidad alcanzando un precio de cierre y un precio medio de cierre de al menos $1.00. Durante este período, NOVA continuará cotizando en la NYSE con un sufijo '.BC' que indica un estado de incumplimiento.
Para abordar este problema, Sunnova está considerando varias opciones, incluida una posible división inversa de acciones, sujeta a la aprobación de la junta y de los accionistas. La notificación no afecta las operaciones comerciales, los requisitos de informes de la SEC ni activa violaciones bajo los acuerdos de deuda existentes.
선노바 에너지 (NYSE: NOVA)는 2025년 4월 1일 NYSE로부터 지속적인 상장 기준 미준수에 대한 통지를 받았습니다. 회사의 주가는 30일 거래 기간 동안 요구되는 평균 종가인 $1.00 이하로 떨어졌습니다.
회사는 6개월의 치료 기간을 가지고 있으며, 이 기간 동안 $1.00 이상의 종가와 30일 평균 종가를 달성하여 준수를 회복해야 합니다. 이 기간 동안 NOVA는 미준수 상태를 나타내는 '.BC' 접미사를 붙여 NYSE에서 계속 거래됩니다.
이 문제를 해결하기 위해 선노바는 이사회 및 주주 승인에 따라 역주식 분할을 포함한 다양한 옵션을 고려하고 있습니다. 이 통지는 사업 운영, SEC 보고 요건에 영향을 미치지 않으며 기존 부채 계약에 따른 위반을 촉발하지 않습니다.
Sunnova Energy (NYSE: NOVA) a reçu une notification de la NYSE le 1er avril 2025, indiquant un non-respect des normes de cotation continue. Le prix de l'action de la société est tombé en dessous du prix moyen de clôture requis de $1.00 sur une période de négociation de 30 jours.
La société dispose d'une période de guérison de six mois pour retrouver la conformité en atteignant un prix de clôture et un prix moyen de clôture d'au moins $1.00. Pendant cette période, NOVA continuera de se négocier sur la NYSE avec un suffixe '.BC' indiquant un statut de non-conformité.
Pour remédier à cette situation, Sunnova envisage diverses options, y compris une éventuelle division inversée des actions, sous réserve de l'approbation du conseil d'administration et des actionnaires. La notification n'affecte pas les opérations commerciales, les exigences de reporting de la SEC ni ne déclenche des violations des accords de dette existants.
Sunnova Energy (NYSE: NOVA) hat am 1. April 2025 eine Mitteilung von der NYSE erhalten, die auf die Nichteinhaltung der fortlaufenden Listungsstandards hinweist. Der Aktienkurs des Unternehmens ist während eines 30-tägigen Handelszeitraums unter den erforderlichen durchschnittlichen Schlusskurs von $1.00 gefallen.
Das Unternehmen hat einen sechsmonatigen Heilungszeitraum, um die Einhaltung wiederherzustellen, indem es einen Schlusskurs und einen 30-Tage-Durchschnittsschlusskurs von mindestens $1.00 erreicht. Während dieses Zeitraums wird NOVA weiterhin an der NYSE mit dem Suffix '.BC' gehandelt, das den Status der Nichteinhaltung anzeigt.
Um dieses Problem anzugehen, erwägt Sunnova verschiedene Optionen, einschließlich einer möglichen Umkehraktienaufspaltung, die der Genehmigung durch den Vorstand und die Aktionäre unterliegt. Die Mitteilung hat keine Auswirkungen auf die Geschäftstätigkeit, die Berichtspflichten der SEC oder löst keine Verstöße gegen bestehende Schuldenvereinbarungen aus.
- No impact on business operations or debt agreements
- Six-month period available to cure listing deficiency
- Company maintains NYSE listing during cure period
- Stock price fallen below NYSE minimum requirement of $1.00
- Risk of potential NYSE delisting if compliance not achieved within 6 months
- Company requires reverse stock split approval from board and shareholders
Insights
Sunnova's receipt of a continued listing notice from the NYSE represents a significant regulatory challenge for the company. With shares trading at
The NYSE's Rule 802.01C creates a clear path forward: achieve a closing share price of at least
The company's disclosure that it's considering a reverse stock split is a standard remediation approach in these situations. Such action would mechanically raise the share price by reducing the number of outstanding shares while maintaining the same market capitalization. However, this requires both board approval and shareholder consent, adding procedural hurdles.
While the notice doesn't affect Sunnova's operations or trigger violations in debt agreements, the market implications cannot be dismissed. NYSE listing standards exist to maintain market quality and investor confidence - falling below these thresholds often reflects underlying challenges. The company now faces a critical period where it must either achieve organic share price appreciation or implement corporate actions to maintain its listing on a major exchange.
The NYSE rules require the Company to notify the NYSE, within 10 business days of receipt of the Notice, of its intent to cure the share price deficiency. The Company has six months following the receipt of the Notice to cure the deficiency and regain compliance. The Company can regain compliance at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period, its common stock, par value
The Company will closely monitor the closing share price of its Common Stock and is considering all available options and intends to regain compliance with the NYSE listing standards by pursuing measures that are in the best interests of the Company and its shareholders, including potentially through the consummation of a reverse stock split, subject to approval by the Company’s board of directors and shareholders.
During the cure period, the Common Stock will continue to be listed and traded on the NYSE under its existing ticker symbol, with the addition of a suffix indicating the “below compliance” status of the Common Stock, as “NOVA.BC.”
The Notice does not affect the Company’s business operations, or its Securities and Exchange Commission reporting requirements, and does not conflict with or trigger any violation under the Company’s material debt agreements.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is an industry-leading adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses. Through its adaptive energy platform, Sunnova provides a better energy service at a better price to deliver its mission of powering energy independence™. For more information, visit http://www.sunnova.com.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s ability to regain compliance with the NYSE’s continued listing standard, the Company’s intention to seek a reverse stock split and the Company’s ability to successfully execute its business and financial strategies. All statements, other than statements of historical fact, are forward-looking statements. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risks and other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent Quarterly Reports on Form 10-Q. These forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250404388341/en/
Sunnova Media Contact
Russell Wilkerson
203-581-2114
russell.wilkerson@sunnova.com
Sunnova Investor Contact
877-770-5211
IR@sunnova.com
Source: Sunnova Energy International Inc.
FAQ
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