Nasdaq Compliance Confirmation Letter to SatCon Technology Corporation (October 2, 2003)
This letter from The Nasdaq Stock Market to SatCon Technology Corporation confirms that, after a review of SatCon's compliance plan, the company now meets all continued listing requirements under Maintenance Standard 2. As a result, SatCon is in compliance with Nasdaq's quantitative requirements for continued listing, and the previous deficiency notice is resolved. The letter serves as official notification that the matter is closed.
Exhibit 10.1
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| THE NASDAQ STOCK MARKET |
By Facsimile and First Class Mail
October 2, 2003
Mr. Ralph M. Norwood
Vice President and Chief Financial Officer
SatCon Technology Corporation
161 First Street
Cambridge, MA 02142
| Re: |
| SatCon Technology Corporation (“Satcon” or the “Company”) |
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| Nasdaq Symbol: SATC |
Dear Mr. Norwood:
On August 14, 2003, Staff notified the Company that it did not comply with the minimum $10,000,000 stockholders’ equity requirement under Maintenance Standard 1 for continued listing on The Nasdaq National Market, as set forth in Marketplace Rule 4450(a)(3). Based on Staff’s further review of the Company and its plan of compliance dated September 10, 2003, Staff has determined that SatCon currently meets all continued listing requirements under Maintenance Standard 2, as set forth in Marketplace Rule 4450(b). Accordingly, the Company complies with the quantitative requirements for continued listing and this matter is now closed.
If you have any questions, please contact Adam Foulke, Listing Analyst, at ###-###-####.
| Sincerely, | |
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| /s/ Cynthia T. Melo |
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| Cynthia T. Melo | |
| Director | |
| Listing Qualifications | |
