SPI Energy Regains Compliance With Nasdaq Listing Requirement for Minimum Market Value of Publicly Held Shares

Rhea-AI Summary

SPI Energy Co., Ltd. (NASDAQ:SPI) has announced that it has regained compliance with Nasdaq listing requirements. This follows a notification received on October 7, 2020, confirming that the Company's Market Value of Publicly Held Shares (MVPHS) met the minimum threshold of $15 million during the period from September 23 to October 6, 2020. With this compliance, SPI has successfully addressed the listing issue, allowing it to continue trading on the Nasdaq Global Select Market.

Positive

• Regained compliance with Nasdaq listing requirement.
• Market Value of Publicly Held Shares exceeded $15 million.

Negative

• None.

SANTA CLARA, CA / ACCESSWIRE / October 8, 2020 / SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), today announced that on October 7, 2020, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq"), indicating that for the ten consecutive trading days from September 23, 2020 to October 6, 2020, the Company's Market Value of Publicly Held Shares ("MVPHS") had been $15,000,000 or greater as required for continued listing on The Nasdaq Global Select Market. Accordingly, the Company has regained compliance with such requirement, and the matter is now closed.

About SPI Energy
SPI Energy Co., Ltd. (SPI) is a global provider of photovoltaic (PV) solutions for business, residential, government, and utility customers and investors. The Company provides a full spectrum of EPC services to third party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in multiple countries, including the U.S., the U.K., Greece, Japan and Italy. The Company has its headquarters in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia. SPI is also targeting strategic investment opportunities in green industries and/or industries, such as electric vehicles and charging stations, leveraging the Company's expertise and growing base of cash flow from solar projects and funding development of projects in agriculture (hemp, alfalfa, etc.) and other markets with significant growth potential.

Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These factors include, among others, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 20-F filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.

CONTACT:
SPI Energy Co., Ltd.
IR Department
Email: ir@spigroups.com

Dave Gentry
RedChipCompanies, Inc.
Phone:(407) 491-4498
dave@redchip.com

SOURCE: SPI Energy Co., Ltd.

View source version on accesswire.com:
https://www.accesswire.com/609643/SPI-Energy-Regains-Compliance-With-Nasdaq-Listing-Requirement-for-Minimum-Market-Value-of-Publicly-Held-Shares

FAQ

What did SPI Energy announce on October 7, 2020?

SPI Energy announced that it regained compliance with Nasdaq listing requirements.

What is the Market Value of Publicly Held Shares for SPI Energy?

SPI Energy's Market Value of Publicly Held Shares exceeded the $15 million threshold.

How long did SPI Energy's compliance period last?

The compliance period lasted from September 23 to October 6, 2020.

What stock exchange does SPI Energy trade on?

SPI Energy trades on the Nasdaq Global Select Market.