Camber Energy announced that on November 7, it received a letter from the NYSE American advising that the company’s securities have been selling for a substantial period of time at a low price per share, which the Exchange determined to be a 30 day trading average price of less than 20c per share and, as a result, pursuant to Section1003(f)(v) of the NYSE American Company Guide, the company’s continued listing is predicated on demonstrating sustained price improvement or effecting a reverse stock split of its common stock within a reasonable period of time, which the Exchange has determined to be no later than May 7, 2023. The company intends to closely monitor the price of its common stock and consider available options if its common stock does not trade at a consistent level likely to result in the company regaining compliance in a timely manner, including, if necessary, carrying out a reverse stock split.
Published first on TheFly
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