Pineapple Energy Regains Compliance With Nasdaq Equity Listing Rule
31 Julio 2024 - 3:05PM
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 $2,500,000. As part of
the issuance of compliance by Nasdaq, the Company will be subject
to a Mandatory Panel Monitor for the period of one (1) year.
“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 StatementsThis 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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