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Spruce Power Holding Corp. (NYSE:SPRU) ("Spruce Power" or the "Company"), a leading owner and operator of distributed solar energy assets across the United States, today announced that on March 28, 2023, it received a notice from the New York Stock Exchange ("NYSE"), notifying the Company that it is out of compliance with the NYSE's price criteria for continued listing standards because, as of March 27, 2023, the average closing price of the Company's common stock was less than $1.00 per share over a consecutive 30 trading-day period.
The Company will notify the NYSE of its intent to cure its stock price deficiency within the applicable time period required by the NYSE, and to return to compliance with the NYSE continued listing standard. The Company can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. The Company intends to consider all available alternatives to cure the stock price non-compliance.
Posted In: SPRU
