Brenmiller Energy Ltd. Announces Receipt of Nasdaq Minimum Bid Price Notification
20 Julho 2023 - 5:05PM
Business Wire
Brenmiller Energy Ltd. (“Brenmiller Energy” or the “Company”)
(Nasdaq: BNRG; TASE: BNRG), a global leader in thermal energy
storage, announced today that it has received a written notice (the
"Notice") from the Nasdaq Stock Market LLC ("Nasdaq") indicating
that the Company is not in compliance with the minimum bid price
requirement for continued listing set forth in Nasdaq Listing Rule
5550(a)(2), which requires listed securities to maintain a minimum
bid price of $1.00 per share. Under Nasdaq Listing Rule
5810(c)(3)(A), the Company has been granted a grace period of 180
calendar days to regain compliance with the minimum bid price
requirement. The Notice does not immediately affect the Company's
Nasdaq listing or the trading of its ordinary shares. During the
grace period, as may be extended, the Company's ordinary shares
will continue to trade on Nasdaq under the symbol “BNRG”.
According to the Notice, the Company has until January 10, 2024,
to regain compliance with the minimum bid price requirement. The
Company can regain compliance if, at any time during this 180-day
period, the closing bid price of its ordinary shares is at least
$1.00 for a minimum of ten consecutive business days, in which case
the Company will be provided with written confirmation of
compliance and this matter will be closed. In the event that the
Company does not regain compliance after the initial 180-day
period, the Company may then be eligible for an additional 180-day
compliance period if it meets the continued listing requirement for
market value of publicly held shares and all other initial listing
standards for the Nasdaq Capital Market, with the exception of the
minimum bid price requirement. In this case, the Company will need
to provide written notice of its intention to cure the deficiency
during the second compliance period.
If the Company cannot demonstrate compliance by the allotted
compliance period(s), Nasdaq's staff will notify the Company that
its ordinary shares are subject to delisting.
Brenmiller Energy’s continued listing on Nasdaq remains a key
priority for the Company. Should the situation not resolve itself
over the above-mentioned time frame, the Company intends to
consider available options to cure the deficiency and regain
compliance with the minimum bid price requirement within the
compliance period.
About Brenmiller Energy Ltd.
Brenmiller Energy delivers scalable thermal energy storage
solutions and services that allow customers to cost-effectively
decarbonize their operations. Its patented bGen thermal storage
technology enables the use of renewable energy resources, as well
as waste heat, to heat crushed rocks to very high temperatures.
They can then store this heat for minutes, hours, or even days
before using it for industrial and power generation processes. With
bGen, organizations have a way to use electricity, biomass and
waste heat to generate the clean steam, hot water and hot air they
need to mold plastic, process food and beverages, produce paper,
manufacture chemicals and pharmaceuticals or drive steam turbines
without burning fossil fuels. For more information visit the
company’s website at https://bren-energy.com/ and follow the
company on Twitter and LinkedIn.
Forward Looking Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and other federal securities and
Israeli securities laws. Statements that are not statements of
historical fact may be deemed to be forward-looking statements. For
example, we are using forward-looking statements when we are
discussing regaining compliance with Nasdaq’s continued listing
requirements, and the timing and effect thereof. Without limiting
the generality of the foregoing, words such as “plan,” “project,”
“potential,” “seek,” “may,” “will,” “expect,” “believe,”
“anticipate,” “intend,” “could,” “estimate” or “continue” are
intended to identify forward-looking statements. Readers are
cautioned that certain important factors may affect the Company’s
actual results and could cause such results to differ materially
from any forward-looking statements that may be made in this press
release. Factors that may affect the Company’s results include, but
are not limited to, the Company’s planned level of revenues and
capital expenditures, the demand for and market acceptance of our
products, impact of competitive products and prices, product
development, commercialization or technological difficulties, the
success or failure of negotiations and trade, legal, social and
economic risks and the risks associated with the adequacy of
existing cash resources. The forward-looking statements contained
or implied in this press release are subject to other risks and
uncertainties, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s Annual Report on Form 20-F for the year ended December
31, 2022 filed with the SEC on March 21, 2023, which is available
on the SEC’s website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230720114932/en/
Tori Bentkover brenmillerenergy@antennagroup.com
Brenmiller Energy (NASDAQ:BNRG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Brenmiller Energy (NASDAQ:BNRG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024