Business Wire 12-Jul-2019 4:30 PM
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.
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.