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Accendra Health Receives NYSE Non-Compliance Notice Over Share Price

BearishMedium impact
ACH$0.4280 −3.43%

Accendra Health, Inc. (ACH) has received a deficiency notice from the New York Stock Exchange because its average closing share price fell below $1.00 over a consecutive 30-day trading period. On the day of the announcement, the company's shares fell 3.06% to close at $0.4296.

The notice does not trigger an immediate delisting, and the stock will continue to trade on the exchange for the time being. However, the company now has a six-month window to bring its share price back into compliance with the minimum listing requirements. To address the issue, management is considering options that include a reverse stock split.

Investors will be watching for the company to present a concrete cure plan to regain compliance. To resolve the deficiency, Accendra Health must achieve a closing share price of at least $1.00 and maintain a $1.00 average closing price over a 30-day period before the six-month deadline expires.

Key points

  • Accendra Health received an NYSE non-compliance notice because its average closing share price was below $1.00 for 30 consecutive days.
  • The company has been granted a six-month cure period to regain compliance with the exchange's listing standards.
  • Shares of the company will continue to be listed and traded on the NYSE during this six-month window.
  • Management is considering executing a reverse stock split as a potential method to raise the share price.
  • The stock fell 3.06% to $0.4296 following the announcement.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

Why did Accendra Health receive a notice from the NYSE?

Accendra Health received the notice because its average closing share price fell below $1.00 over a consecutive 30-day trading period.

Will Accendra Health stock be delisted immediately?

No, the stock will not be delisted immediately. The shares will continue to be listed and traded on the NYSE during a six-month compliance cure period.

How can Accendra Health fix its NYSE listing deficiency?

The company has six months to bring its share price back above the minimum requirement. It is currently considering options to regain compliance, including a potential reverse stock split.