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In a Form 8-K filed on November 5, 2020, Newpark Resources, Inc. announced that it received formal notice from the New York Stock Exchange (NYSE) of non-compliance with NYSE continued listing standards. Newpark said it received the notice because the average closing price of its shares fell below the minimum of $1.00 per share during a consecutive 30 trading-day period.
Newpark is evaluating all available options to regain compliance with the NYSE’s continued listing standards, which may include transactions that are subject to the approval of Newpark’s shareholders.
The current NYSE notification does not impact Newpark’s ongoing business operations or its U.S. Securities and Exchange Commission reporting requirements and it does not result in a default under any of its material debt agreements, according to the release.
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