Orion Energy Systems Faces Delisting Concerns

TL;DR

ORION ENERGY SYSTEMS (OESX) might get delisted - big trouble ahead.

AI Summary

Orion Energy Systems, Inc. filed an 8-K on September 20, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is based in Manitowoc, Wisconsin, and its principal executive offices are located at 2210 Woodland Drive.

Why It Matters

This filing indicates potential issues with Orion Energy Systems' continued listing on a stock exchange, which could impact its stock price and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to severe stock price declines and operational challenges.

Key Players & Entities

• ORION ENERGY SYSTEMS, INC. (company) — Registrant
• 2210 Woodland Drive (location) — Principal Executive Offices
• Manitowoc, Wisconsin (location) — Company Location
• September 20, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $1.00 — ties to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(

Filing Documents

• oesx-20240920.htm (8-K) — 44KB
• 0000950170-24-108416.txt ( ) — 155KB
• oesx-20240920.xsd (EX-101.SCH) — 23KB
• oesx-20240920_htm.xml (XML) — 4KB

01 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. On September 20, 2024, Orion Energy Systems, Inc. (the "Company") received written notice (the "Notification Letter") from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule") for continued listing on The Nasdaq Capital Market. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's common stock for the 30 consecutive business days prior to the date of the Notification Letter, the Company no longer meets the Bid Price Rule. The Notification Letter does not impact the Company's current listing on The Nasdaq Capital Market at this time, and shares of the Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "OESX". The Notification Letter states that the Company has 180 calendar days, or until March 19, 2025, to regain compliance with the Bid Price Rule. To regain compliance, the Company's common stock must have a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. If the Company does not regain compliance by March 19, 2025, an additional 180 days may be granted to regain compliance, so long as the Company meets The Nasdaq Capital Market initial listing criteria (except for the Bid Price Rule) and notifies Nasdaq in writing of its intention to cure the deficiency during the second compliance period, including the implementation of a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ORION ENERGY SYSTEMS, INC. Date: September 20, 2024 By: /s/ J. Per Brodin J. Per Brodin Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR