ORION ENERGY SYSTEMS, INC. (OESX): Nasdaq/NYSE listing notice — Orion Energy receives Nasdaq delisting notice for bid price non-compliance

ORION ENERGY SYSTEMS, INC.

Nasdaq notified Orion that its stock failed to maintain minimum $1.00 bid price for 30 consecutive business days.
Company has 180 days (until Oct 2, 2024) to regain compliance by closing bid price >=$1.00 for 10 consecutive days.
This is the second such notice; Orion regained compliance in Jan 2024 after a similar notice in Dec 2023.
Orion expects FY2024 revenue of $90-$95M and targets 10-15% YoY growth in FY2025 to support compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ORION ENERGY SYSTEMS, INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

April 5, 2024, Orion Energy Systems, Inc. (the “Company”) received written notice (the “Notification Letter”) from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”) for continued listing on The Nasdaq Capital Market. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement

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95 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

ORION ENERGY SYSTEMS, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-042268

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