The New York Stock Exchange (NYSE), on Dec. 23, notified Atlas Energy Group LLC (NYSE: ATLS) that the company had fallen below the NYSE's continued listing standards relating to minimum average global equity market capitalization and total stockholders' equity, which require that its average global market capitalization be not less than $50 million over a consecutive 30-trading-day period, and its total stockholders' equity be not less than $50 million.
As required by NYSE procedures, ATLS has the ability to submit a plan to the NYSE within 45 days from the receipt of the NYSE notice that demonstrates its ability to regain compliance with the listing standards within 18 months. Upon receipt of the plan, the NYSE has 45 calendar days to review and determine whether the company has made a reasonable demonstration of its ability to conform to the relevant standards within the 18-month period.
The NYSE will either accept the plan, at which time ATLS will subject to ongoing monitoring for compliance with this plan, or the company will initiate an orderly transition to another exchange. During the 18-month cure period, the company's shares will continued to be listed and traded on the NYSE, subject to compliance with other NYSE continued listing standards. ATLS intends to present a plan to bring the company in compliance with the listing standards within the required time frame.