On Dec. 17, Nuverra Environmental Solutions Inc. (NYSE: NES) received written notice from the New York Stock Exchange (NYSE) that the company had fallen below the NYSE's continued listing standard, which requires that the average closing price of a listed company's common stock equal at least $1 per share over a consecutive 30-day trading period. In accordance with the NYSE rules, Nuverra will notify the NYSE within 10 business days of its intent to cure the deficiency under continued listing standard 802.01C and return to compliance.
Nuverra has six months from its receipt of notice to regain compliance with the minimum share price requirement. The company can regain compliance with the standard at any time during the six-month period when its common stock has a closing share price of at least $1 and an average closing share price of at least $1 over the 30-trading-day period ending on the last trading day of that month or the last trading day of the cure period. If the company does not regain compliance within the six-month cure period, it will be subject to the delisting process.
NYSE notifications do not affect Nuvera's business operations. Its common stock will continue to trade on the NYSE subject to the company's ability to maintain compliance with other listing standards.
Nuverra Environmental Solutions provides full-cycle environmental solutions to customers in the energy market. It focuses on the delivery, collection, treatment, recycling, and disposal of restricted solids, water, wastewater, waste fluids and hydrocarbons.