UPDATE: Active Power Receives Nasdaq Letter Regarding Non-Compliance with Minimum Bid Price Rule
Active Power, Inc. (NASDAQ: ACPW) today announced that on Dec. 19, 2011, it received a letter from The Nasdaq Stock Market stating that for the previous 30 consecutive business days, the bid price of the Company's common stock closed below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Global Market pursuant to Nasdaq Marketplace Rule 5450(a)(1) (the “Minimum Bid Price Rule”). The Nasdaq letter has no immediate effect on the listing of the Company's common stock.
In accordance with Marketplace Rule 5810(c)(3)(A), Active Power will be provided with a grace period of 180 calendar days, or until June 18, 2012, to regain compliance with the Minimum Bid Price Rule. If at any time before June 18, 2012, the bid price of the Company's 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 achieved compliance with the Minimum Bid Price Rule. If the Company does not regain compliance with the Minimum Bid Price Rule by June 18, 2012, Nasdaq will notify the Company that its common stock will be subject to delisting from The Nasdaq Global Market.
