COCO61 schreef op 25 april 2020 18:53:
reverse split misschien
of
Nasdaq has given Abraxas Petroleum Corporation six more months to bring its stock price into compliance, avoiding delisting from the market this month.
Nasdaq, Inc notified Abraxas (Nasdaq: AXAS) in August 2019 that the company did not meet the listing standard, which requires a minimum average closing price of $1 per share over a period of 30 consecutive trading days.
Abraxas was still not in compliance this month, setting the company up for delisting, but Nasdaq determined the company is eligible for an additional 180 days, or until August 24, 2020, to regain compliance, according to a Tuesday press release.
The press release states Nasdaq gave the company more time due to the company’s written intention to remedy its stock price under a reverse stock split, if necessary. If the average closing price is at least $1 per share for a minimum of 10 consecutive business days during the six months, NASDAQ will confirm compliance in writing and close the matter.
Steve Harris, Abraxas chief financial officer, told the Business Journal in August 2019 that a reverse stock split was one possible solution.
Abraxas Petroleum Corporation is a San Antonio-based oil and gas exploration and production company with operations across the Rocky Mountain and Permian Basin regions.