HONG KONG, Jan. 11, 2018 (GLOBE NEWSWIRE) -- SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (Nasdaq:SPI), a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors, today announced that it received a notification letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market Inc. ("Nasdaq") on January 5, 2018 indicating that the Company is not currently in compliance with Nasdaq's Listing Rules ("Listing Rules") for continued listing due to the Company's failure to file with the Securities and Exchange Commission a Report of Foreign Private Issuer on Form 6-K ("Form 6-K") including an interim balance sheet and income statement as of the end of its most recently completed second quarter (June 30, 2017). Pursuant to Listing Rule 5250(c)(2), the Company was required to file such Form 6-K no later than December 31, 2017 (the "Due Date"). As of the date of this press release, the Company has not yet filed the required Form 6-K.
The Notice has no immediate effect on the listing of the Company's securities, the Company has 60 days from the date of the Notice, or until March 6, 2018, to submit a plan to regain compliance with the Listing Rules. If Nasdaq accepts the Company's plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the Due Date (or June 29, 2018), to regain compliance with the Listing Rules. The Company intends to submit a plan to regain compliance within the time period afforded in the Notice.
About SPI Energy Co., Ltd.
SPI Energy Co., Ltd. is a global provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. SPI Energyfocuses on the EPC/BT, storage and O2O PV market including the development, financing, installation, operation and sale of utility-scale and residential PV projects in China, Japan, Europe and North America. The Company operates an online energy e-commerce and investment platform in China, as well as B2B e-commerce platform offering a range of PV and storage products in Australia. The Company has its operating headquarters in Hong Kong and maintains global operations in Asia, Europe, North America and Australia.