Pacific Ethanol Receives NASDAQ Compliance Determination
SACRAMENTO, Calif., May 30, 2013 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc.
(Nasdaq:PEIX), the leading marketer and producer of low-carbon renewable fuels
in the Western United States, announced it received a letter from The NASDAQ
Stock Market ("NASDAQ") on May 29, 2013, which contained a NASDAQ compliance
determination that the Company has regained compliance with NASDAQ Listing
Rule 5550(a)(2), which requires that listed securities maintain a minimum
closing bid price of $1.00 per share.
As previously announced, the Company received a letter from NASDAQ notifying
the Company that it did not comply with the $1.00 minimum closing bid price
requirement for continued listing under the NASDAQ Listing Rules. The Company
was provided an initial period of 180 calendar days, or until December 3,
2012, during which to regain compliance. The Company failed to regain
compliance by December 3, 2012 but was provided a final additional period of
180 calendar days, or until June 3, 2013, during which to regain compliance.
The Company's common stock has subsequently maintained a closing bid price of
at least $1.00 per share for 10 consecutive trading days, enabling the Company
to regain compliance with NASDAQ Listing Rule 5550(a)(2).
About Pacific Ethanol, Inc.
Pacific Ethanol, Inc. (Nasdaq:PEIX) is the leading marketer and producer of
low-carbon renewable fuels in the Western United States. Pacific Ethanol also
sells co-products, including wet distillers grain ("WDG"), a nutritious animal
feed. Serving integrated oil companies and gasoline marketers who blend
ethanol into gasoline, Pacific Ethanol provides transportation, storage and
delivery of ethanol through third-party service providers in the Western
United States, primarily in California, Arizona, Nevada, Utah, Oregon,
Colorado, Idaho and Washington. Pacific Ethanol has an 83% ownership interest
in New PE Holdco LLC, the owner of four ethanol production facilities. Pacific
Ethanol operates and manages the four ethanol production facilities, which
have a combined annual production capacity of 200 million gallons. The
facilities in operation are located in Boardman, Oregon, Burley, Idaho and
Stockton, California, and one idled facility is located in Madera, California.
The facilities are near their respective fuel and feed customers, offering
significant timing, transportation cost and logistical advantages. Pacific
Ethanol's subsidiary, Kinergy Marketing LLC, markets ethanol from Pacific
Ethanol's managed plants and from other third-party production facilities, and
another subsidiary, Pacific Ag. Products, LLC, markets WDG. For more
information please visit www.pacificethanol.net.
CONTACT: Company IR Contact:
Pacific Ethanol, Inc.
IR Agency Contact:
Pacific Ethanol, Inc.
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