TerraForm Global, Inc. (NASDAQ:GLBL) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
Inc. (the Company) received a notification of delisting from the
Nasdaq Global Select Market and requested a hearing from the
Nasdaq Hearings Panel (the Panel).
requested from Nasdaq an extension until March 27, 2017 to regain
compliance with Nasdaqs continued listing requirements with
respect to its delayed Form 10-K for the year ended December 31,
2015 and its delayed Forms 10-Q for the periods ended March 31
and June 30, 2016. On November 15, 2016, the Company received a
notification letter from a Hearings Advisor from the Nasdaq
Office of General Counsel informing the Company that the Panel
granted the Companys request for an extension until March 27,
2017 with respect to these delayed filings. The Panel granted the
Company the maximum possible extension until the expiration of
the Panels discretion to allow continued listing while the
Company remains out of compliance with Nasdaqs continued listing
requirements. The Panel reserved the right to reconsider the
terms of the extension and the Nasdaq Listing and Hearing Review
Council may determine to review the Panels decision.
notification letter from a Senior Director of Nasdaq Listing
Qualifications (the Notification Letter). The Notification Letter
stated that because the Company has not yet filed its Form 10-Q
for the quarter ended September 30, 2016 (the Q3 10-Q), and
because it remains delinquent in filing its Form 10-K for the
year ended December 31, 2015 and Forms 10-Q for the quarters
ended March 31, 2016 and June 30, 2016, the Company is not in
compliance with Nasdaq Listing Rule 5250(c)(1), which requires
timely filing of periodic reports with the Securities and
Exchange Commission. Based on discussions with the Panels staff,
the extension granted by the Panel also covers the non-compliance
by the Company with Nasdaq Listing Rule 5250(c)(1) caused by the
failure of the Company to timely file the Q3 10-Q.
announcing the granting of the extension and receipt of the
Notification Letter. A copy of the press release is furnished
herewith as Exhibit 99.1.
release is deemed to be furnished and shall not be deemed filed
for the purpose of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that
section, nor shall such information and Exhibit be deemed
incorporated by reference in any filing under the Securities Act
of 1933, as amended, or the Securities Exchange Act of 1934, as
amended.
historical information contained in this Form 8-K and the press
release attached as an exhibit hereto, this Form 8-K and the
press release contain forward-looking statements which involve
certain risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by these
statements. Please refer to the cautionary note in the press
release regarding these forward-looking statements.
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Exhibit No.
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Description
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99.1*
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Press release, dated November 16, 2016, titled
TerraForm Global Announces Extension Until March 2017 to Regain Nasdaq Compliance |
About TerraForm Global, Inc. (NASDAQ:GLBL)
TerraForm Global, Inc. is a holding company. The Company owns interest in TerraForm Global, LLC, a diversified renewable energy company that owns long-term contracted wind, solar and hydro-electric power plants. The Company’s portfolio of projects include Hercules (China), NSM 24 (India), NSM Suryalabh (India), NSM Sitara (India), NSM L’Volta (India), Brakes (India), Raj 5 (India), Focal (India), Bhakrani (India), Gadag (India), Hanumanhatti (India), Boshoff (South Africa), Klipheuwel (South Africa), Koonkoonsies (South Africa), Witkop (South Africa), Soutpan (South Africa), Silverstar Pavilion (Malaysia), Fortune 11 (Malaysia), PP Solar (Thailand), ESPRA (Brazil), El Naranjal (Uruguay), Del Litoral (Uruguay), Alto Cielo (Uruguay) and LAP Portfolio (Peru). In addition, the Company operates Salvador and Bahia wind energy projects that are located in Brazil. The Company serves a range of utility, commercial, industrial and government customers. TerraForm Global, Inc. (NASDAQ:GLBL) Recent Trading Information
TerraForm Global, Inc. (NASDAQ:GLBL) closed its last trading session down -0.05 at 3.80 with 519,659 shares trading hands.