Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On March 17, 2021, the Company received a notice from the Listing Qualifications
Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company in
not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet
filed its Annual Report on Form 10-K for the year ended December 31, 2020 (the
"2020 Form 10-K") with the Securities and Exchange Commission (the "SEC").
Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all
required periodic financial reports with the SEC.
As previously disclosed in the Company's Form 8-K filed with the SEC on March
16, 2021, the Company has determined to restate certain prior period financial
statements to be included in the 2020 Form 10-K. The Company is working
diligently to finalize the restated financial statements and to file the 2020
Form 10-K as soon as practicable.
Under Nasdaq rules, the Company has 60 calendar days from the date of the Nasdaq
notification letter, or until May 17, 2021, to file the 2020 Form 10-K with the
SEC. If the Company is unable to file the 2020 Form 10-K with the SEC by May 17,
2021, the Company intends to submit a plan to regain compliance with the Nasdaq
Listing Rules on or prior to that date. If Nasdaq accepts the Company's plan,
then Nasdaq may grant an exception of up to 180 calendar days from the due date
of the 2020 Form 10-K, or until September 13, 2021, to regain compliance. If
Nasdaq does not accept the Company's plan, then the Company will have the
opportunity to appeal that decision to a Nasdaq hearings panel.
The Nasdaq notice has no immediate impact on the listing or trading of the
Company's common stock on the Nasdaq Capital Market.
Item 8.01. Other Events.
On March 18, 2021, the Company issued a press release announcing its receipt of
the notice from Nasdaq. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Title
99.1 Press Release of Plug Power Inc. dated March 18, 2021.
104 Cover Page Interactive Data File (embedded with the Inline XBRL document).
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