TerraForm Global Gets Non-compliance Letter From Nasdaq - Quick Facts

(RTTNews) - TerraForm Global, Inc. (GLBL) said it received a notification letter on March 31 from an Associate Director of Nasdaq Listing Qualifications.

The notification letter stated that as TerraForm Global has not yet filed its Form 10-K for the year ended December 31, 2015, it is no longer in compliance with Nasdaq Marketplace Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission.

Under the Nasdaq Listing Rules, TerraForm Global has until May 31, 2016, to submit a plan to Nasdaq as to how it plans to regain compliance with Nasdaq's continued listing requirements.

If TerraForm Global is still unable to file its Form 10-K by May 31, 2016, then the company intends to submit a compliance plan on or prior to that date.

The company noted that it may regain compliance at any time during this 180-day period upon filing with the SEC its Form 10-K, as well as all subsequent required periodic financial reports that are due within that period.