Acorn Energy Announces Receipt Of Nasdaq Notice Of Stockholders' Equity Deficiency; Company To Transfer Listing To Nasdaq Capital Market

WILMINGTON, Del., April 13, 2015 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN), today announced that on April 7, 2015, it received a letter from the Nasdaq Listings Qualification Staff stating that the Company is not in compliance with the continued listing requirements of the Nasdaq Global Market because the Company's stockholders' equity is below the minimum $10 million requirement of Listing Rule 5450(b)(1)(A).

As an alternative to regaining compliance with the Nasdaq Global Market's minimum stockholders' equity requirement, the Company intends to submit an application to transfer the listing of the Company's securities from the Nasdaq Global Market to the Nasdaq Capital Market which the Company expects to be approved.

As previously disclosed, the Company is not currently in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.  The Company has until July 13, 2015 to come into compliance with this requirement.

About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company whose three portfolio companies help their customers achieve greater productivity, reliability, security, and efficiency—factors which can lead to greater profitability. DSIT provides security solutions from underwater threats to naval and marine based energy assets. GridSense® provides monitoring for all critical points along the electricity delivery system. OmniMetrix^TM remotely monitors emergency back-up power generation systems to increase their reliability and corrosion protection systems for gas pipelines. For more information visit: http://www.acornenergy.com.

Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included in "Risk Factors" in Acorn's Form 10-K filed with the Securities and Exchange Commission.

Investor & Press Contact: 
Paul G. Henning 
Cameron Associates
(212) 554-5462 
[email protected]

SOURCE Acorn Energy, Inc.

Related Links

http://www.acornenergy.com