STEM, INC. Faces Delisting Concerns

TL;DR

STEM, INC. might get delisted, check their listing status.

AI Summary

STEM, INC. filed an 8-K on August 28, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company was formerly known as Star Peak Energy Transition Corp. and has been subject to SEC filings since 2018.

Why It Matters

This filing indicates potential issues with STEM, INC.'s 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 poses a significant risk to the company's stock trading and overall financial stability.

Key Players & Entities

• STEM, INC. (company) — Registrant
• Star Peak Energy Transition Corp. (company) — Former company name
• August 28, 2024 (date) — Date of Report
• 2018 (date) — Year of former company name change

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 STEM New York Stock Exchange Indicate
• $1.00 — shares of common stock had fallen below $1.00 per share over a period of 30 consecuti

Filing Documents

• stem-20240828.htm (8-K) — 34KB
• exhibit99-pr1.htm (EX-99) — 9KB
• 0001758766-24-000159.txt ( ) — 169KB
• stem-20240828.xsd (EX-101.SCH) — 2KB
• stem-20240828_lab.xml (EX-101.LAB) — 21KB
• stem-20240828_pre.xml (EX-101.PRE) — 12KB
• stem-20240828_htm.xml (XML) — 3KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 28, 2024, Stem, Inc. (the "Company") received a written notice (the "Notice") from the New York Stock Exchange (the "NYSE") that the average closing price of its shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average closing price required to maintain continued listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual. The Company intends to respond to the NYSE within 10 business days of receipt of the Notice regarding its intent to cure the deficiency and return to compliance with the NYSE's continued listing requirements. Under the NYSE's rules, the cure period extends for six months following receipt of the Notice. The Company's shares of common stock continue to trade on the NYSE, subject to compliance with other continued listing requirements. Under the NYSE rules, the Company can regain compliance at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period, its common stock has a closing share price of at least $1.00 per share and an average closing price of at least $1.00 per share over the 30-trading-day period ending on the last trading day of such month. Failure to satisfy the conditions of the cure period or to maintain other listing requirements could lead to a delisting. The Notice does not affect the Company's business operations or its reporting obligations with the SEC, and does not conflict with or cause an event of default under any of the Company's material debt or other agreements.

01

Item 7.01 Regulation FD Disclosure. On August 30, 2024, the Company issued a press release with respect to the receipt of the notice of non-compliance from the NYSE. A copy of the press release is furnished as Exhibit 99 hereto and is incorporated by reference herein. The information in this Item 7.01 (including Exhibit 99) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. The following exhibit is furnished as part of this report: Exhibit No. Description 99 Stem, Inc. Press Release dated August 30 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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. 3 STEM, INC. Date: August 30, 2024 By: /s/ Saul R. Laureles Name: Saul R. Laureles Title: Chief Legal Officer and Corporate Secretary _____________________________________________________________________________________________ 4

View Full Filing

View this 8-K filing on SEC EDGAR