Pineapple Energy falls on reverse stock split plans

Sunation Energy

10/06/2024 13:16

** Shares of utility firm Pineapple Energy  PEGY.O  down 16%
to 12 cents premarket
    ** Co says it will implement a 1-for-15 reverse stock split
of its outstanding common stock
    ** Shares are expected to begin trading on a post-split
basis on June 12
    ** Says reverse split is primarily intended to increase the
market price per share of the its common stock to regain
compliance with the continued listing requirements of Nasdaq 
    ** Co has ~108.55 mln shares outstanding - LSEG
    ** Up to last close, shares down 75.1% YTD

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))