Capstone Green Energy Delisted from Nasdaq, Files for Bankruptcy amid Financial Struggles
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Capstone Green Energy delisted from Nasdaq and now trading on OTC Expert Market under ticker CGRNQ due to bankruptcy filing and failure to meet requirements.
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Delisting driven by market cap below $30M for 30 days, stock price below $1 for 30 days, and failure to file financial statements.
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Capstone continues work on restating financials and becoming current on SEC filings. Expects eligibility for higher OTC tier after that.
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Capstone filed prepackaged Chapter 11 bankruptcy on Sept 28 to address financial challenges and achieve stability.
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Company remains committed to sustainable energy solutions and sees bankruptcy as strategic move for long-term viability.