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| PLUG > SEC Filings for PLUG > Form 8-K on 12-Oct-2012 | All Recent SEC Filings |
12-Oct-2012
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tr
On October 12, 2012, Plug Power Inc. (the "Company") received a deficiency notice from The Nasdaq Stock Market ("Nasdaq") stating that it no longer complies with Nasdaq Marketplace Rule 5550(a)(2) because the bid price of the Company's common stock closed below the required minimum $1.00 per share for the previous 30 consecutive business days. The notice also indicated that, in accordance with Marketplace Rule 5810(c)(3)(A), Plug Power has a period of 180 calendar days, until April 10, 2013, to regain compliance with Rule 5550(a)(2). If at any time before April 10, 2013 the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it has regained compliance with Rule 5550(a)(2). In the event the Company does not regain compliance with Rule 5550(a)(2) prior to the expiration of the 180-day period, Nasdaq will notify the Company that its common stock is subject to delisting. The Company may appeal the delisting determination to a Nasdaq hearing panel and the delisting will be stayed pending until the panel's determination. At such hearing, the Company would present a plan to regain compliance and Nasdaq would then subsequently render a decision. The Company is currently evaluating its alternatives to resolve the listing deficiency.
On October 12, 2012, the Company issued a press release announcing the receipt of the Nasdaq deficiency notice. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
(d) Exhibits.
Exhibit Number Title
99.1 Press Release issued by Plug Power Inc. dated October 12, 2012
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