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Nine Energy Service, Inc. Receives Notice from NYSE Regarding Continued Listing Requirements
Nine Energy Service, Inc. (“Nine” or the “Company”) (NYSE: NINE) anno...
About this update from Nine Mile Metals Ltd.
[{"type":"text","content":"Nine Energy Service, Inc. Receives Notice from NYSE Regarding Continued Listing Requirements\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n Nine Energy Service, Inc. (“Nine” or the “Company”) (NYSE: NINE) announced today that, on April 30, 2025, the Company was notified by the New York Stock Exchange (“NYSE”) of its noncompliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of its common stock had fallen below $1.00 per share over a period of 30 consecutive trading days.\n \n\n Under the NYSE’s rules, the Company can regain compliance with the minimum share price requirement at any time within the six-month period following receipt of the NYSE notification if on the last trading day of any calendar month during the six-month cure period, the Company’s common stock has (i) a closing price of at least $1.00 per share and (ii) an average closing price of at least $1.00 per share over the 30 trading-day period ending on the last trading day of such month.\n \n\n The Company’s Board of Directors is reviewing all available alternatives to regain compliance with the NYSE’s minimum share price requirement, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting of stockholders, if necessary to cure the stock price non-compliance. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require stockholder approval, the Company must obtain the stockholder approval by no later than its next annual meeting of stockholders and implement the action promptly thereafter, and the price condition will be deemed cured if the price promptly exceeds $1.00 per share and the price remains above that level for at least the following 30 trading days.\n \n\n During the cure period, subject to the Company’s compliance with other NYSE continued listing requirements, shares of the Company’s common stock will continue to be traded on the NYSE under the symbol “NINE” with an added designation of “.BC” to indicate that the Company currently is not in compliance with the NYSE’s continued listing requirements....