Pineapple Energy Regains Compliance with NASDAQ Offer Price

MINNETONKA, Minn., July 18, 2024 (GLOBE NEWSWIRE) — Pineapple Energy Inc. (Nasdaq: PEGY) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and backup power to homes and small businesses, has regained compliance with the NASDAQ Offer Price Requirement.

Pineapple’s compliance with Listing Rule 5550(a)(2), also commonly known as the “Call Price Rule,” which requires companies to maintain their stock price consistently above $1.00.

“Ensuring compliance with the offer prices has been a top priority for Pineapple’s management team,” said Scott Maskin, interim CEO of Pineapple Energy. “This latest event demonstrates once again how hard we have worked to deliver the value we know our company represents.”

In recent months, the Company’s management, led by Maskin, has prioritized transparency and open communication in implementing strategies that they believe will restore equity to Pineapple shareholders.

About Pineapple Energy

Pineapple is focused on growing leading local and regional solar, storage and energy services companies nationwide. Our vision is to drive the energy transition through grassroots growth in solar combined with battery storage. Our portfolio of brands (SUNation Energy, Hawaii Energy Connection, E-Gear) provides residential and commercial customers with a comprehensive product offering spanning solar, battery storage and grid services.

Forward-looking statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial results, future growth and future opportunities, including prospects for future capital raising activities. These statements are based on Pineapple’s current expectations or beliefs and are subject to uncertainties and changes in circumstances. Actual results may differ materially from those expressed or implied by the statements contained herein due to changes in economic, business, competitive or regulatory factors and other risks and uncertainties identified in Pineapple’s filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of this press release. Pineapple undertakes no obligation to update or revise these forward-looking statements for any reason, except as required by law.

Communication:
Scott Maskin
Interim CEO
+1 (631) 823-7131
[email protected]

Pineapple Investor Relations
+1 (952) 996-1674
[email protected]