UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed in iSun, Inc.’s (the “Company”) Current Report on Form 8-K filed on May 19, 2023, the Company received notice from The Nasdaq Stock Market (“Nasdaq”) indicating that the Company did not satisfy Nasdaq Listing Rule 5500(a)(2), insofar as the bid price for the Company’s Common Stock was less than $1.00 per share for the previous 30 consecutive business days, and in accordance with the Nasdaq Listing Rules, the Company had been provided a 180-day grace period within which to regain compliance with that requirement, through May 13, 2024.
On May 14, 2024, the Company received a second letter from the Nasdaq Listing Qualifications Staff indicating that, based upon the Company’s continued non-compliance with Nasdaq Listing Rule 5550(a)(2), the Company’s securities would be subject to delisting from The Nasdaq Capital Market unless the Company timely requests a hearing before a Nasdaq hearings panel.
The Company does not intend to request a hearing before that panel in regards to non-compliance with Nasdaq Listing Rule 5500(a)(2) and, as a result, trading of the Company’s Common Stock on The Nasdaq Capital Market will be suspended at the opening of business on May 23, 2024.
The Company anticipates pursuing the trading of its Common Stock on the OTC market. The Company can provide no assurance that the Common Stock will commence or continue to trade on this market, whether broker-dealers will continue to provide public quotes of the Common Stock on this market, whether the trading volume of the Common Stock will be sufficient to provide for an efficient trading market or whether quotes for the Common Stock will continue on this market in the future.
The Company does not anticipate that the foregoing affect the Company’s business operations or its reporting with the Securities and Exchange Commission. .
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 | Letter from Brie Charles, Director, Nasdaq Listing Qualifications | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 20, 2024
iSun, Inc. | ||
By: | /s/ Jeffrey Peck | |
Name: | Jeffrey Peck | |
Title: | Chief Executive Officer |