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Tigo Energy, Inc., a semiconductor company, has been notified by The Nasdaq Stock Market that it is currently not in compliance with the exchange's minimum bid price requirement. The Campbell, California-based company, which trades under the ticker TYGO, disclosed on Monday that it received a warning from Nasdaq on April 3, 2025, due to its common stock's closing bid price falling below the $1.00 minimum over the past 30 consecutive business days. The stock, currently trading at $0.67, has declined over 50% in the past six months, according to InvestingPro data, which also indicates the stock is currently trading below its Fair Value.
Nasdaq's Listing Rule 5550(a)(2) mandates that companies maintain a minimum bid price of $1.00 per share. Tigo Energy has been granted a 180-day period, ending on September 30, 2025, to regain compliance. The company can achieve this if the closing bid price of its stock reaches $1.00 for at least 10 consecutive business days within this timeframe. InvestingPro analysis reveals several challenges, including weak gross profit margins and rapidly depleting cash reserves, with 15 additional key insights available to subscribers.
If Tigo Energy fails to meet the requirement by the Compliance Date, it may be eligible for an additional 180-day period to comply. This would involve meeting all other initial listing standards for the Nasdaq Capital Market, except the Bid Price Requirement, and potentially executing a reverse stock split if necessary. However, if Nasdaq determines that the company will not be able to remedy the deficiency, or if the company otherwise does not qualify for the extension, Tigo Energy's common stock could be delisted.
The company has expressed its intention to closely monitor its stock's closing bid price and is considering options, including a reverse stock split, to address noncompliance and maintain its Nasdaq listing. Despite these efforts, there is no guarantee that Tigo Energy will be able to regain compliance with the Bid Price Requirement.
This news is based on Tigo Energy's recent filing with the Securities and Exchange Commission, which contains forward-looking statements subject to various risks and uncertainties. The company's future ability to maintain its Nasdaq listing and comply with other listing requirements remains uncertain.
In other recent news, Tigo Energy, Inc. announced significant changes to its executive compensation plan, as detailed in a recent SEC filing. The company's Compensation Committee approved a new Executive Short Term Incentive Plan, which offers potential cash bonuses for key executives based on the company's revenue and Adjusted EBITDA performance, alongside individual performance objectives. For these bonuses to be awarded, Tigo Energy's revenue and Adjusted EBITDA must achieve at least 75% of their target goals. Additionally, Tigo Energy has amended employment agreements for its CEO, Zvi Alon, and CFO, Bill Roeschlein. These amendments include detailed calculations for annual bonuses and extend severance benefits in cases of termination without cause or resignation for good reason following a change in control. Under the new terms, Alon and Roeschlein would receive extended salary and health benefits for 24 and 18 months, respectively, if terminated under such circumstances. The changes aim to align executive compensation with company performance and clarify bonus calculations and severance terms. The full details of these plans and agreements are available in the SEC filing.
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