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TerraForm Power receives Nasdaq notification

TerraForm Power Inc. received a letter from Nasdaq requiring the yieldco to submit its Form 10-Q for the first and second quarters of 2017 as part of its continued listing requirements.

On June 30, the yieldco said the Nasdaq Hearings Panel extended the time it had for regaining compliance, subject to the submission its Form 10-K for full year 2016 by July 24; holding an annual meeting of stockholders by Aug. 24; submission of its Form 10-Q for the first quarter of 2017 by Aug. 30; and submission of its Form 10-Q for the second quarter of 2017 by Sept. 30.

TerraForm Power filed its Form 10-K for full year 2016 on July 21 and held its annual meeting of stockholders on Aug. 10. However, the company said in an Aug. 11 news release that it cannot assure the submission of the remaining requirements on or before the deadlines.

TerraForm Power stock closed the Aug. 11 trading day down 0.86% at $12.61 on below-average volume.