{"id":787587,"date":"2023-10-02T21:37:39","date_gmt":"2023-10-03T01:37:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-power-announces-reverse-stock-split\/"},"modified":"2023-10-02T21:37:39","modified_gmt":"2023-10-03T01:37:39","slug":"spruce-power-announces-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-power-announces-reverse-stock-split\/","title":{"rendered":"Spruce Power Announces Reverse Stock Split"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Spruce Power Announces Reverse Stock Split<\/b><\/p>\n<p class=\"bwalignc\"><i>1-for-8 reverse stock split of Spruce\u2019s common stock approved by stockholders<\/i><\/p>\n<p class=\"bwalignc\"><i>Spruce\u2019s common stock anticipated to begin trading on a split-adjusted base on October 9, 2023<\/i><\/p>\n<p>DENVER&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSpruce Power Holding Corporation (NYSE: SPRU) (\u201cSpruce\u201d or the \u201cCompany\u201d), a leading owner and operator of distributed solar energy assets across the United States, today announced that its stockholders have approved a 1-for-8 reverse stock split (\u201cReverse Split\u201d) of the Company\u2019s common stock at a special stockholder meeting held today, October 2, 2023. The Reverse Split, which has previously been approved by the Company\u2019s Board of Directors, is intended to enable Spruce to comply with the New York Stock Exchange\u2019s continued listing requirements and make the common stock more attractive to a broader range of institutional investors.<\/p>\n<p>\nThe Reverse Split is expected to become effective on October 6, 2023, and the Company\u2019s common stock will begin trading on a split-adjusted basis when the market opens on October 9, 2023, under the existing trading symbol \u201cSPRU\u201d and new CUSIP number 9837FR209.<\/p>\n<p>\nAs a result of the Reverse Split, each eight shares of the Company\u2019s issued and outstanding common stock will automatically be reclassified and combined into one share of common stock. Proportional adjustments will also be made to the Company\u2019s outstanding equity awards and warrants. No fractional shares will be issued in connection with the Reverse Split. Any stockholder who would otherwise be entitled to a fractional share of common stock will instead receive a cash payment equal to such fraction multiplied by the closing price of the Company\u2019s common stock as reported by the NYSE on October 6, 2023, as adjusted to give effect to the Reverse Split.<\/p>\n<p>\nAdditional information about the Reverse Split can be found in Spruce\u2019s definitive proxy statement filed with the U.S. Securities and Exchange Commission (\u201cSEC\u201d) on August 23, 2023, which is available on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53568191&amp;newsitemid=20231002189358&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=1&amp;md5=efe8d48b92a2ce2799581b897ed164db\">www.sec.gov<\/a> and on the Company\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Finvestors.sprucepower.com&amp;esheet=53568191&amp;newsitemid=20231002189358&amp;lan=en-US&amp;anchor=www.investors.sprucepower.com&amp;index=2&amp;md5=555239b2b2bb0e92f8b4e0f8bb4a30f4\">www.investors.sprucepower.com<\/a>.<\/p>\n<p><b>About Spruce Power<\/b><\/p>\n<p>\nSpruce Power Holding Corporation (NYSE: SPRU) is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners to benefit from rooftop solar power and battery storage. Our as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company owns the cash flows from over 75,000 home solar assets and contracts across the United States. For additional information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sprucepower.com&amp;esheet=53568191&amp;newsitemid=20231002189358&amp;lan=en-US&amp;anchor=www.sprucepower.com&amp;index=3&amp;md5=014052584a51e13afa84b615830ff73e\">www.sprucepower.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20231002189358r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20231002189358\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20231002189358\/en\/<\/a><\/span><\/p>\n<p>\nInvestor Contact: <a rel=\"nofollow\" href=\"mailto:investors@sprucepower.com\">investors@sprucepower.com<br \/>\n<\/a><br \/><i>Head of Investor Relations: Bronson Fleig<\/i><\/p>\n<p>\nMedia Contact: <a rel=\"nofollow\" href=\"mailto:publicrelations@sprucepower.com\">publicrelations@sprucepower.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Colorado<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Utilities Construction &amp; Property Batteries Alternative Energy Energy Building Systems Technology Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20231002189358\/en\/1904763\/3\/SPRU_logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Spruce Power Announces Reverse Stock Split 1-for-8 reverse stock split of Spruce\u2019s common stock approved by stockholders Spruce\u2019s common stock anticipated to begin trading on a split-adjusted base on October 9, 2023 DENVER&#8211;(BUSINESS WIRE)&#8211; Spruce Power Holding Corporation (NYSE: SPRU) (\u201cSpruce\u201d or the \u201cCompany\u201d), a leading owner and operator of distributed solar energy assets across the United States, today announced that its stockholders have approved a 1-for-8 reverse stock split (\u201cReverse Split\u201d) of the Company\u2019s common stock at a special stockholder meeting held today, October 2, 2023. The Reverse Split, which has previously been approved by the Company\u2019s Board of Directors, is intended to enable Spruce to comply with the New York Stock Exchange\u2019s continued listing requirements and make the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-power-announces-reverse-stock-split\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Spruce Power Announces Reverse Stock Split&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-787587","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spruce Power Announces Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-power-announces-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spruce Power Announces Reverse Stock Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Spruce Power Announces Reverse Stock Split 1-for-8 reverse stock split of Spruce\u2019s common stock approved by stockholders Spruce\u2019s common stock anticipated to begin trading on a split-adjusted base on October 9, 2023 DENVER&#8211;(BUSINESS WIRE)&#8211; Spruce Power Holding Corporation (NYSE: SPRU) (\u201cSpruce\u201d or the \u201cCompany\u201d), a leading owner and operator of distributed solar energy assets across the United States, today announced that its stockholders have approved a 1-for-8 reverse stock split (\u201cReverse Split\u201d) of the Company\u2019s common stock at a special stockholder meeting held today, October 2, 2023. The Reverse Split, which has previously been approved by the Company\u2019s Board of Directors, is intended to enable Spruce to comply with the New York Stock Exchange\u2019s continued listing requirements and make the &hellip; Continue reading &quot;Spruce Power Announces Reverse Stock Split&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-power-announces-reverse-stock-split\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-03T01:37:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20231002189358r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spruce-power-announces-reverse-stock-split\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spruce-power-announces-reverse-stock-split\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Spruce Power Announces Reverse Stock Split\",\"datePublished\":\"2023-10-03T01:37:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spruce-power-announces-reverse-stock-split\\\/\"},\"wordCount\":481,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spruce-power-announces-reverse-stock-split\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20231002189358r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spruce-power-announces-reverse-stock-split\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/spruce-power-announces-reverse-stock-split\\\/\",\"name\":\"Spruce Power Announces Reverse Stock Split - 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