SunPower announced that the Company received a notice from the Nasdaq Stock Market that it has determined to delist the Company’s common stock on Nasdaq. The delisting is a result of the Company’s failure to demonstrate compliance with Nasdaq Listing Rules 5101, 5110, and IM-5101-1 as a result of the Company and certain of its direct and indirect subsidiaries filing voluntary petitions for relief under Chapter 11 of Title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and Nasdaq Listing Rule 5250 for failure to file periodic financial reports. Trading in the Company’s common stock on Nasdaq will be suspended on August 16. As a result, the Company’s common stock is expected to commence trading on the Pink Open Market operated by the OTC Markets Group.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPWR:
- SunPower options imply 34.2% move in share price post-earnings
- SolarWinds to replace SunPower in S&P 600 at open on 8/9
- SunPower Restructuring: Bankruptcy, Asset Sale, Nasdaq Risks
- Complete Solaria discusses SunPower acquisition opportunity
- SunPower files for Chapter 11, to sell Blue Raven Solar to Complete Solaria