Nasdaq sends Pioneer Power delinquency notification letter

Pioneer Power Solutions announced that on April 18 the company received a delinquency notification letter from the Listing Qualifications Department of the Nasdaq Stock Market indicating that the company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of its failure to have timely filed its Annual Report for the year ended December 31 on Form 10-K with the Securities and Exchange Commission. The delinquency notification letter provides that, under Nasdaq rules for continued listing, the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance. If the Company’s plan is accepted, Nasdaq may grant the Company an exception of up to 180 days from the filing’s due date, or until October 14 to regain compliance.