Power REIT Receives Notice From NYSE American

Update on Compliance Measures

Old Bethpage, New York, Sept. 26, 2024 (GLOBE NEWSWIRE) — Power REIT (NYSE-AMEX: PW and PW.PRA) (“Power REIT” or the “Trust”), today announced that it received a notice from the NYSE American LLC rescinding its letter dated September 3, 2024 (the “Deficiency Letter”). As previously disclosed, the Deficiency Letter stated that the Trust was not in compliance with the continued listing standards of the Exchange because the Trust was below compliance with Section 1003(a)(i) of the NYSE American Company Guide (the “Company Guide”), requiring stockholders’ equity of $2.0 million or more if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.

A Step in the Right Direction

This recent development marks a significant step forward for Power REIT, as it demonstrates the Trust’s commitment to maintaining compliance with the NYSE American’s listing standards. By addressing the issues outlined in the Deficiency Letter, Power REIT is taking proactive measures to ensure its continued presence on the Exchange.

Power REIT’s management team has been working diligently to improve the Trust’s financial position and strengthen its stockholders’ equity. Through strategic initiatives and prudent financial management, Power REIT is focused on achieving sustainable growth and long-term value creation for its shareholders.

How This Development Will Impact Investors

For investors in Power REIT, the rescinding of the Deficiency Letter is a positive sign that the Trust is on the right track towards compliance with the NYSE American’s listing standards. This development may help instill confidence in investors and attract potential new investors who are looking for stable and compliant investment opportunities.

As Power REIT continues to enhance its financial position and meet the Exchange’s requirements, investors can expect to see improved transparency and accountability from the Trust. This could potentially lead to increased shareholder value and a stronger market position for Power REIT in the long run.

The Global Impact

While the impact of Power REIT’s compliance measures may be more pronounced for its investors, the Trust’s efforts to maintain listing standards also have broader implications for the financial markets and the global economy. By demonstrating its commitment to compliance and financial stability, Power REIT is contributing to a healthier and more transparent investment environment.

As investors around the world seek out reliable and compliant investment opportunities, Power REIT’s adherence to listing standards sets a positive example for other market participants. This can help bolster confidence in the financial markets and promote a culture of accountability and sustainability in the investment community.

In Conclusion

Power REIT’s receipt of the notice rescinding the Deficiency Letter from NYSE American is a significant milestone for the Trust and its investors. By addressing the compliance issues outlined in the Deficiency Letter, Power REIT is taking proactive steps to strengthen its financial position and ensure its continued listing on the Exchange.

Investors can expect to see increased transparency and accountability from Power REIT as the Trust works towards compliance with the NYSE American’s listing standards. This development not only benefits Power REIT and its investors but also contributes to a more stable and transparent investment environment globally.