SPI Energy Co., Ltd. Announces Receipt of Delinquency Notice from NASDAQ
January 11 2018 - 8:00AM
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq:SPI),
a global provider of photovoltaic (PV) solutions for business,
residential, government and utility customers and investors, today
announced that it received a notification letter (the "Notice")
from the Listing Qualifications Department of The Nasdaq Stock
Market Inc. ("Nasdaq") on January 5, 2018 indicating that the
Company is not currently in compliance with Nasdaq's Listing Rules
("Listing Rules") for continued listing due to the Company's
failure to file with the Securities and Exchange Commission a
Report of Foreign Private Issuer on Form 6-K ("Form 6-K") including
an interim balance sheet and income statement as of the end of its
most recently completed second quarter (June 30, 2017). Pursuant to
Listing Rule 5250(c)(2), the Company was required to file such Form
6-K no later than December 31, 2017 (the "Due Date"). As of the
date of this press release, the Company has not yet filed the
required Form 6-K.
The Notice has no immediate effect on the listing of the
Company's securities, the Company has 60 days from the date of the
Notice, or until March 6, 2018, to submit a plan to regain
compliance with the Listing Rules. If Nasdaq accepts the Company's
plan, Nasdaq may grant the Company an extension of up to 180
calendar days from the Due Date (or June 29, 2018), to regain
compliance with the Listing Rules. The Company intends to submit a
plan to regain compliance within the time period afforded in the
Notice.
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 EPC/BT, storage
and O2O PV market including the development, financing,
installation, operation and sale of utility-scale and residential
PV projects in China, Japan, Europe and North America. The Company
operates an online energy e-commerce and investment platform in
China, as well as B2B e-commerce platform offering a range of PV
and storage products in Australia. 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:
http://investors.spisolar.com
For investors and media inquiries please
contact:
SPI Energy Co., Ltd. IR Department Email: ir@spisolar.com
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