Stem Has 45 Days From NYSE Letter to Submit Compliance Plan
Photo: TokenPost
Stem, Inc. has 45 days from receiving an Oct. 20 letter from the New York Stock Exchange (NYSE) to submit a plan addressing a shortfall under the exchange’s continued-listing standard. The standard sets two thresholds: average market capitalization of at least $50 million over 30 consecutive trading days and stockholders’ equity of at least $50 million. Stem did not specify which measure prompted the notice or provide its figures for either one. Stem notified the NYSE on Oct. 19 and received the exchange’s letter the next day. The company disclosed the notice in an Oct.
Source: TokenPost
