The solar energy operator said it had voluntarily filed Form 10 with the SEC, registering its common stock under the Securities Exchange Act of 1934. Going forward, the company will be required to file annual 10-K forms and quarterly 8-K forms, among other items.
The move is part of Alternus’ plan to uplist to the NYSE or Nasdaq in New York.
“By filing this registration statement with the Securities and Exchange Commission, we have followed through on a key 2019 goal as set out in our shareholder update on May 30th,” CEO Vincent Browne said in a statement.
“I believe this filing also sends a signal to investors of our continued focus to become more transparent in operations and reporting.”
Alternus is based in New York, but much of its solar operations are located in Europe. In July, the company purchased a 11.75-megawatt solar park in the Netherlands, and it hopes to end the year with ownership of at least 100 megawatts in solar projects — a five times increase from 2018.
Traders sent the company's shares 5.3% lower Wednesday to $0.27.
—Updated share price—
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