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An announcement from Power REIT ( (PW) ) is now available.
Power REIT successfully resolved an equity compliance issue with the NYSE American by reclassifying its Preferred Shares from Mezzanine Equity to Equity, raising its total equity to approximately $10 million, surpassing the required $2 million threshold. The adjustment, detailed in a filed Form 10-Q/A and a subsequent press release, was a non-cash accounting change that did not impact the company’s revenue or net income. Following the restatement, the NYSE American rescinded the Deficiency Letter, reaffirming Power REIT’s compliance with listing standards.
Learn more about PW stock on TipRanks’ Stock Analysis page.
