PR Newswire·Oct 1, 2026, 7:45 AM ET

PowerBank Corporation Receives Additional 180-day Compliance Period from Nasdaq to Regain Compliance with Minimum Bid Price Requirement

PowerBank Corporation received an 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement, with a new deadline of March 28, 2027.
The company currently meets all Nasdaq Capital Market listing requirements except for the minimum bid price rule.
Trading of PowerBank shares under the symbol "PBK" will continue without immediate effect on the listing.
Compliance can be regained if the closing bid price remains at least US$1.00 per share for 10 consecutive business days during the extension period.
Nasdaq approved the transfer of PowerBank's listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective October 1, 2026.
PowerBank established an Automatic Securities Disposition Plan (ASDP) effective October 2, 2026, to facilitate pre-arranged share sales by insiders.
The ASDP authorizes sales by executives including Dr. Richard Lu, Matthew Wayrynen, Andrew van Doorn, Paul Sparkes, & Olen Aasen.
Shares under the ASDP will be sold by an independent broker with specific volume limits to mitigate market impact, with execution starting no sooner than 90 days after adoption.
PowerBank is a vertically integrated renewable energy developer focusing on distributed solar & Battery Energy Storage System projects in North America with a pipeline of nearly one gigawatt.