Pineapple Energy Inc. (Nasdaq: PEGY) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and backup power to households, businesses, municipalities, and for servicing existing systems, today announced that it has regained compliance with the Nasdaq Capital Market’s continued listing standard for the minimum share price requirement under Nasdaq Listing Rule 5550(a)(2).
The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s common stock was above $1.00 per share for a minimum of 10 consecutive trading days.
Nasdaq considers this matter closed and the Company’s securities will continue to be listed and traded on The Nasdaq Stock Market. As a result, the hearing before the Nasdaq Hearings Panel scheduled for November 21, 2024 is deemed moot and has been cancelled.
“This marks another important milestone in our hard-fought journey to address the issues of the past and position the Company for sustainable, long-term, success,” said Scott Maskin, Interim Chief Executive Officer. “On behalf our new management team and Board, we are grateful for the continuing support of our shareholders, partners, and employees during this process and we remain committed to enhancing long-term shareholder value.”
