Spire Corporation Receives Staff Determination Letter from Nasdaq

Wed Nov 26, 4:02 PM

BEDFORD, Mass.--(BUSINESS WIRE)--Spire Corporation (Nasdaq: SPIR - News), a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic modules worldwide, today announced that on November 20, 2008 it received a Staff Determination Letter from the Nasdaq Stock Market (“Nasdaq”) indicating that, because the Company failed to timely file its Form 10-Q for the quarter ended September 30, 2008, it was not in compliance with the continued listing requirements set forth in Nasdaq Marketplace Rule 4310(c)(14). On Monday, November 24, 2008, the Company filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2008. As a result, the Company yesterday received a notice from Nasdaq stating that, based on Monday’s filing of the Form 10-Q, the Company is now in compliance with Nasdaq Marketplace Rule 4310(c)(14) and that the matter is now closed.

About Spire Corporation

Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules and cells worldwide. Spire Semiconductor provides processing technology for Spire’s silicon solar cell manufacturing lines and offers custom gallium arsenide cells for solar concentrator systems. For corporate or product information, contact Spire Corporation, “The Turnkey Solar Factory Company,” at 781-275-6000, or visit www.spirecorp.com.

Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

Spire Corporation
Christian Dufresne, 781-275-6000
CFO & Treasurer