Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On March 17, 2021, the Company received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company in not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Form 10-K") with the Securities and Exchange Commission (the "SEC"). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the SEC.

As previously disclosed in the Company's Form 8-K filed with the SEC on March 16, 2021, the Company has determined to restate certain prior period financial statements to be included in the 2020 Form 10-K. The Company is working diligently to finalize the restated financial statements and to file the 2020 Form 10-K as soon as practicable.

Under Nasdaq rules, the Company has 60 calendar days from the date of the Nasdaq notification letter, or until May 17, 2021, to file the 2020 Form 10-K with the SEC. If the Company is unable to file the 2020 Form 10-K with the SEC by May 17, 2021, the Company intends to submit a plan to regain compliance with the Nasdaq Listing Rules on or prior to that date. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the 2020 Form 10-K, or until September 13, 2021, to regain compliance. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.

The Nasdaq notice has no immediate impact on the listing or trading of the Company's common stock on the Nasdaq Capital Market.




Item 8.01. Other Events.

On March 18, 2021, the Company issued a press release announcing its receipt of the notice from Nasdaq. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.





                                       2

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits.



Exhibit
Number                                       Title
  99.1       Press Release of Plug Power Inc. dated March 18, 2021.
104        Cover Page Interactive Data File (embedded with the Inline XBRL document).




                                       3

© Edgar Online, source Glimpses