The Peck Company Announces Satisfaction of Nasdaq Listing Requirements and Delisting of Public Warrants
13 July 2019 - 6:30AM
Business Wire
The Company's
Common Stock Will Continue to Trade on Nasdaq
The Peck Company (or “Peck” or
“the Company”) (NASDAQ:PECK), a leading commercial solar
engineering, procurement and construction (EPC) company, today
announced that it received an Approval Letter from the Listing
Qualifications Department of The Nasdaq Stock Market ("Nasdaq")
stating that the staff of Nasdaq (the "Staff") has determined the
Company has satisfied all the Nasdaq listing requirements. In
addition, the Company’s warrants have not demonstrated the minimum
400 round lot holder requirement for initial listing of its
warrants set forth in Nasdaq Listing Rule 5515(a)(4) following the
completion of the Company's business combination on June 20,
2019.
The delist notice for the
warrants provides that unless the Company requests an appeal of the
Staff's determination to a Nasdaq Hearings Panel (the "Panel"), the
Company's warrants will be scheduled for delisting from Nasdaq and
will be suspended at the opening of business on July 16, 2019,
after which Nasdaq will remove the Company's warrants from listing
and registration on Nasdaq. Given the low number of warrant
holders, a delisting of the warrants was anticipated after the
business combination, and the Company does not intend to file an
appeal. Warrants will remain exercisable according to the terms set
forth in the Warrant Agreement filed with pre-merger S-1 documents
on November 23, 2015.
The shares of the Company's
common stock will continue to trade on Nasdaq as
(NASDAQ:PECK).
About The Peck Company
Headquartered in South Burlington, VT, The Peck Company, is a
2nd-generation family business founded in 1972 and rooted in values
that align people, purpose, and profitability. Ranked by Solar
Power World as the largest commercial solar contractor in the
Northeast and one of the largest in U.S., The Peck Company provides
engineering, procurement and construction (EPC) services to solar
energy customers for projects ranging in size from several
kilowatts for residential loads to multi-megawatt systems for large
commercial and public works projects. The Peck Company has
installed over 100MW of solar systems since inception and is
focused on profitable growth opportunities. Please visit
www.peckelectric.com for additional information.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Words or phrases such as
"may," "should," "expects," "could," "intends," "plans,"
"anticipates," "estimates," "believes," "forecasts," "predicts" or
other similar expressions are intended to identify forward-looking
statements, which include, without limitation, earnings forecasts,
effective tax rate, statements relating to our business strategy
and statements of expectations, beliefs, future plans and
strategies and anticipated developments concerning our industry,
business, operations and financial performance and condition.
The forward-looking statements included in this press release
are based on our current expectations, projections, estimates and
assumptions. These statements are only predictions, not guarantees.
Such forward-looking statements are subject to numerous risks and
uncertainties that are difficult to predict. These risks and
uncertainties may cause actual results to differ materially from
what is forecast in such forward-looking statements, and include,
without limitation, the risk factors described from time to time in
our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-K.
All forward-looking statements included in this press release
are based on information currently available to us, and we assume
no obligation to update any forward-looking statement except as may
be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190712005434/en/
Media: Cory Ziskind ICR cory.ziskind@icrinc.com
646-277-1232 Investor: Michael Callahan ICR
michael.callahan@icrinc.com 203-682-8311
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