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| RSOL > SEC Filings for RSOL > Form 8-K on 28-Sep-2012 | All Recent SEC Filings |
28-Sep-2012
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stan
On September 26, 2012, Real Goods Solar, Inc. (the "Company") received a letter from The Nasdaq Stock Market ("NASDAQ"), notifying the Company that for the last 30 consecutive business days, the bid price of the Company's Class A common stock had closed below the minimum $1.00 per share requirement for continued inclusion on NASDAQ based on Listing Rule 5450(a)(1), and describing a timetable for bringing the Company into compliance with that rule.
The Company's Class A common stock remains listed on NASDAQ under the symbol RSOL. Under Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until March 25, 2013, to regain compliance. If at any time before then, the Company's Class A common stock has a closing bid price of $1.00 or more for a minimum of 10 consecutive business days, NASDAQ staff will notify the Company that it has regained compliance.
If the Company has not met the requirements of Rule 5450(a)(1) by March 25, 2013, but meets the continued listing requirement for market value of publicly held shares and all other applicable standards for initial listing on The Nasdaq Capital Market (other than the minimum bid price requirement), then the Company may be eligible for an additional 180 day compliance period by submitting an application to transfer its securities to The Nasdaq Capital Market. In order to qualify, the Company will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split if necessary. If it appears to NASDAQ staff that the Company will not be able to cure the deficiency during this second compliance period, or if the Company is otherwise not eligible, the staff will provide notice that the Company's securities will be subject to delisting.
The Company intends to actively monitor the bid price for its common stock between now and March 25, 2013, and will consider available options to resolve the deficiency and regain compliance with the NASDAQ minimum bid price requirement.
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