ORION ENERGY SYSTEMS, INC. (OESX): Nasdaq/NYSE listing notice — Orion Energy Systems receives Nasdaq bid price non-compliance notice; cure deadline June 18, 2024

ORION ENERGY SYSTEMS, INC.

Nasdaq notified Orion on Dec 21, 2023 that its stock closed below $1.00 for 30 consecutive business days.
Company has 180 days (until June 18, 2024) to regain compliance by closing at $1.00+ for 10 consecutive days.
Orion reports Q2 fiscal 2024 revenue grew 17% YoY and sequentially; expects full-year FY2024 revenue up 30% vs. FY2023.
Management expects positive adjusted EBITDA and free cash flow in H2 fiscal 2024 to support compliance efforts.
Potential second 180-day grace period available if Orion meets Nasdaq initial listing criteria (excluding bid price).

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

December 21, 2023, 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 requirem

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ORION ENERGY SYSTEMS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-302111

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