SunPower Receives Nasdaq Notice Regarding Late Quarterly Report Filing
SunPower (NASDAQ: SPWR) announced today that it has received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”). The Listing Rule requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the “SEC”). SunPower did not timely file its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 (the “Q1 2024 10-Q”) with the SEC.
The Nasdaq notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq.
Nasdaq indicated that the Company must submit a plan to regain compliance with the Listing Rule by and, following receipt of such plan, Nasdaq may grant an extension of up to 180 calendar days from the due date of the Annual Report on Form 10-K for the period ended (the “2023 Form 10-K”), or until , for the Company to regain compliance.
SunPower is working diligently to finalize the 2023 Form 10-K and Q1 2024 10-Q and plans to file the 2023 Form 10-K and Q1 2024 10-Q as soon as practicable to regain compliance with the Listing Rule.
While the Company can provide no assurances as to timing, it is committed to regaining compliance with Nasdaq listing standards.
SunPower (NASDAQ: SPWR) is a leading residential solar, storage, and energy services provider in the United States. SunPower offers solar + storage solutions that give customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. For more information, visit investors.sunpowercorp.com.
