secwatch.observer — SEC 8-K summary
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Issuer:     ORION ENERGY SYSTEMS, INC. (OESX)
CIK:        0001409375
Form:       8-K
Filed at:   2023-12-22T23:59:59+00:00
Accession:  0001193125-23-302111
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Orion Energy Systems receives Nasdaq bid price non-compliance notice; cure deadline June 18, 2024
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409375/000119312523302111/0001193125-23-302111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409375/000119312523302111/d496106d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-302111

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