Banking & Finance  January 30, 2017

RGS Energy regains compliance to continue trading on Nasdaq

DENVER — Real Goods Solar Inc., (Nasdaq: RGSE) has regained compliance with Nasdaq’s minimum shareholders’ equity requirement and is eligible for continued listing on Nasdaq, according to documents released Monday by the Securities and Exchange Commission.

Doing business as RGS Energy, the solar-rooftop installer’s shareholders’ equity had dropped below Nasdaq’s $2.5 million requirement in December, when the company was put on notice, according to the Form 8-K.

Last Thursday, the company effected a reverse stock split, the company’s third in less than two years, at a ratio of one-for-30, and began selling common stock and warrants to boost its shareholders’ equity.

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The company’s per share price also had dropped below Nasdaq’s $1 per share requirement, and the reverse stock split boosted RGS Energy’s per share price above $1. Shares on Monday were trading between $3.77 and $5.58.

The company has effected two splits prior to this one, including one-for-20 splits on May 18, 2015, and June 2, 2016, all in an attempt to maintain its listing on Nasdaq.

The company has moved its headquarters from Louisville to Denver. The new office is on the third floor at 110 16th St. in downtown Denver. The company said in a prepared statement last week that the move “significantly reduces rent expense.”

 

DENVER — Real Goods Solar Inc., (Nasdaq: RGSE) has regained compliance with Nasdaq’s minimum shareholders’ equity requirement and is eligible for continued listing on Nasdaq, according to documents released Monday by the Securities and Exchange Commission.

Doing business as RGS Energy, the solar-rooftop installer’s shareholders’ equity had dropped below Nasdaq’s $2.5 million requirement in December, when the company was put on notice, according to the Form 8-K.

Last Thursday, the company effected a reverse stock split, the company’s third in less than two years, at a ratio of one-for-30, and began selling common stock and warrants…

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