Pineapple Energy Regains Compliance With Nasdaq Equity Listing Rule
Pineapple Energy Inc. (Nasdaq: PEGY) has successfully regained compliance with Nasdaq's equity listing requirements. The company, a leading provider of sustainable solar energy and back-up power solutions, now meets the Nasdaq Capital Market's Equity Rule (Listing Rule 5550(b)(1)), which mandates a minimum stockholders' equity of $2,500,000. This achievement follows Pineapple's recent compliance with Nasdaq's Bid Price listing requirements.
As part of the compliance issuance, PEGY will be subject to a Mandatory Panel Monitor for one year. Interim CEO Scott Maskin emphasized that regaining compliance has been a top priority since he assumed leadership in May 2024, demonstrating the company's commitment to its shareholders.
Pineapple Energy Inc. (Nasdaq: PEGY) ha riacquisito con successo la conformità ai requisiti di quotazione azionaria di Nasdaq. L'azienda, fornitore leader di soluzioni energetiche solari sostenibili e di backup, soddisfa ora il Regolamento azionario del Nasdaq Capital Market (Regola di quotazione 5550(b)(1)), che richiede un patrimonio netto minimo degli azionisti di $2.500.000. Questo risultato segue la recente conformità di Pineapple ai requisiti di quotazione del prezzo delle azioni di Nasdaq.
Come parte della diffusione della conformità, PEGY sarà soggetta a un Monitoraggio del Pannello Obbligatorio per un anno. L'amministratore delegato ad interim Scott Maskin ha sottolineato che il ripristino della conformità è stata una priorità fondamentale da quando ha assunto la leadership a maggio 2024, dimostrando l'impegno dell'azienda verso i suoi azionisti.
Pineapple Energy Inc. (Nasdaq: PEGY) ha recuperado con éxito el cumplimiento de los requisitos de cotización de capital de Nasdaq. La empresa, un proveedor líder de soluciones sostenibles de energía solar y respaldo, ahora cumple con la Regla de Capital del Mercado de Nasdaq (Regla de Cotización 5550(b)(1)), que exige un patrimonio neto mínimo de $2,500,000. Este logro sigue a la reciente conformidad de Pineapple con los requisitos de cotización del precio de las acciones de Nasdaq.
Como parte de la emisión de cumplimiento, PEGY estará sujeta a un Monitoreo Obligatorio del Panel durante un año. El CEO interino Scott Maskin subrayó que recuperar la conformidad ha sido una prioridad principal desde que asumió el liderazgo en mayo de 2024, demostrando el compromiso de la empresa con sus accionistas.
파인애플 에너지 주식회사(Pineapple Energy Inc., Nasdq: PEGY)가 나스닥의 주식 상장 요구조건을 성공적으로 재확인했습니다. 이 회사는 지속 가능한 태양광 에너지 및 백업 전력 솔루션의 선두 제공업체로, 현재 나스닥 자본 시장의 주식 규칙(상장 규칙 5550(b)(1))을 충족하고 있으며, 이는 최소 주주 자본금 $2,500,000을 요구합니다. 이 성과는 파인애플이 나스닥의 입찰 가격 상장 요구 조건을 최근 충족한 데 뒤따른 것입니다.
준수 발표의 일환으로, PEGY는 1년 동안 의무 패널 모니터에 의해 감독됩니다. 임시 CEO인 스콧 마스킨은 그가 2024년 5월 리더십을 맡은 이후로 준수의 회복이 최우선 과제가 되어 왔다며, 이는 회사가 주주에 대한 헌신을 보여주는 것이라고 강조했습니다.
Pineapple Energy Inc. (Nasdaq: PEGY) a réussi à rétablir sa conformité aux exigences de cotation en capital de Nasdaq. L'entreprise, un fournisseur leader de solutions d'énergie solaire durable et de secours, respecte désormais la règle de capital (Règle de cotation 5550(b)(1)) du marché des capitaux Nasdaq, qui exige un capital minimum de 2 500 000 $. Cette réalisation fait suite à la récente conformité de Pineapple aux exigences de cotation du prix de l'offre de Nasdaq.
Dans le cadre de cette annonce de conformité, PEGY sera soumise à un contrôle obligataire par un panel pendant un an. Le PDG par intérim Scott Maskin a souligné que le rétablissement de la conformité est devenu une priorité depuis qu'il a assumé la direction en mai 2024, démontrant ainsi l'engagement de l'entreprise envers ses actionnaires.
Pineapple Energy Inc. (Nasdaq: PEGY) hat erfolgreich die Anforderungen für die Aktiennotierung von Nasdaq erfüllt. Das Unternehmen, ein führender Anbieter nachhaltiger Solarenergie- und Notstromlösungen, erfüllt nun die Eigenkapitalregel (Listing Rule 5550(b)(1)) des Nasdaq Capital Markets, die ein Mindestkapital von 2.500.000 USD vorschreibt. Diese Errungenschaft folgt auf die kürzliche Konformität von Pineapple mit den Anforderungen an den Angebotspreis von Nasdaq.
Im Rahmen der Compliance-Bekanntgabe wird PEGY für ein Jahr einem verpflichtenden Panelmonitor unterzogen. Interims-CEO Scott Maskin betonte, dass die Wiederherstellung der Konformität seit seinem Amtsantritt im Mai 2024 höchste Priorität hatte, was das Engagement des Unternehmens gegenüber seinen Aktionären verdeutlicht.
- Regained compliance with Nasdaq's Equity Rule, maintaining listing on Nasdaq Capital Market
- Met minimum stockholders' equity requirement of $2,500,000
- Previously regained compliance with Nasdaq's Bid Price listing requirements
- Subject to a Mandatory Panel Monitor for one year
Pineapple Energy's regained compliance with Nasdaq's Equity Rule is a significant development for the company and its investors. This achievement demonstrates the company's commitment to maintaining its listing status and improving its financial position. Here are some key points to consider:
- The compliance with Rule 5550(b)(1) indicates that Pineapple Energy now has stockholders' equity of at least
$2,500,000 , which is a positive sign for the company's financial health. - This development, coupled with the previous compliance with Nasdaq's Bid Price listing requirements, suggests that the management team led by Interim CEO Scott Maskin is making progress in addressing regulatory concerns.
- The implementation of a Mandatory Panel Monitor for one year implies that Nasdaq will be closely watching Pineapple Energy's continued compliance, which could provide additional assurance to investors.
- However, it's important to note that while regaining compliance is a positive step, it doesn't necessarily reflect the overall financial performance or growth prospects of the company. Investors should still carefully examine Pineapple Energy's financial statements, market position and growth strategy.
- The solar energy sector faces both opportunities and challenges, including potential policy changes, technological advancements and market competition. These factors should be considered when evaluating Pineapple Energy's long-term prospects.
While this news is certainly positive for Pineapple Energy, investors should remain cautious and continue to monitor the company's financial performance and strategic initiatives in the coming quarters to assess its ability to maintain compliance and drive sustainable growth.
The regaining of compliance with Nasdaq's Equity Rule by Pineapple Energy has significant legal and regulatory implications. Let's break down the key aspects:
- Compliance with Listing Rule 5550(b)(1) is important for maintaining Pineapple Energy's listing on the Nasdaq Capital Market. This achievement reduces the immediate risk of delisting, which could have had severe consequences for the company's access to capital and investor confidence.
- The implementation of a Mandatory Panel Monitor for one year is a standard procedure for companies that have recently regained compliance. This oversight mechanism ensures that Pineapple Energy maintains its newly achieved status and adheres to Nasdaq's requirements consistently.
- From a corporate governance perspective, this development reflects positively on the management's ability to address regulatory challenges. It demonstrates their commitment to meeting the standards required of publicly traded companies.
- Investors should be aware that while compliance has been regained, the company will be under increased scrutiny. Any future non-compliance could potentially lead to more severe consequences, given the recent history.
- The company's ability to maintain compliance moving forward will be crucial. This may influence strategic decisions, such as capital allocation, to ensure the stockholders' equity remains above the
$2,500,000 threshold.
While this development mitigates immediate regulatory risks, investors should continue to monitor the company's ongoing compliance efforts and financial strategies to ensure long-term stability in its listing status.
RONKONKOMA, N.Y., July 31, 2024 (GLOBE NEWSWIRE) -- Pineapple Energy Inc. (Nasdaq: PEGY) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and back-up power to households and small businesses, has regained compliance with Nasdaq’s equity requirements.
Pineapple’s newly regained compliance relates to Listing Rule 5550(b)(1), also known commonly as the “Equity Rule,” which requires for companies listed on the Nasdaq Capital Market to maintain stockholders' equity of at least
“Yet again, we’ve hit another key milestone on Pineapple’s path to success. Between regaining compliance with Nasdaq’s Bid Price listing requirements and now with the Equity Rule, we’re showing that we are taking our responsibilities to our trusted shareholders seriously,” Scott Maskin, Interim CEO of Pineapple Energy said.
Restoring compliance has been a top priority of Maskin’s management team since he assumed Pineapple’s top leadership role back in May of this year.
About Pineapple Energy
Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation Energy, Hawaii Energy Connection, E-Gear) provide those within the Residential and Commercial sectors an end-to-end product offering spanning solar, battery storage, and grid services.
Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth, and future opportunities, including the prospect of future capital-raising activities. These statements are based on Pineapple’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements here due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties, set forth in Pineapple’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release. Pineapple does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.
Contacts:
Scott Maskin
Interim Chief Executive Officer
+1 (631) 823-7131
scott.maskin@pineappleenergy.com
Pineapple Investor Relations
+1 (952) 996-1674
IR@pineappleenergy.com
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