AND EXCHANGE COMMISSION
to Section 13 or 15(d) of the
Exchange Act of 1934
of report (Date of earliest event reported): September 22, 2020
Name of the Registrant as Specified in Charter)
or Other Jurisdiction
Winding Creek Road, Suite 100
of Principal Executive Offices)
telephone number, including area code
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section
12(b) of the Act:
of each class
of each exchange on which registered|
Stock, par value $0.001
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
growth company [ ]
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
September 22, 2020, Sunworks, Inc. (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”)
indicating that the Company has failed to comply with the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2). Nasdaq
Listing Rule 5550(a)(2) requires that companies listed on the Nasdaq Capital Market maintain a minimum closing bid price of at
least $1.00 per share.
Nasdaq Listing Rule 5810(c)(3)(A), the Company has a 180 calendar day grace period to regain compliance by meeting the continued
listing standard. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per
share for a minimum of ten consecutive business days during this grace period.
Company is monitoring the bid price of its common stock and will consider options available to it to achieve compliance.
to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned hereunto duly authorized.
September 25, 2020
||/s/ Paul C. McDonnel|
Chief Financial Officer|