Jones Energy Inc. Regains Compliance With NYSE Continued Listing Requirements
Benzinga Newsdesk 8 years ago
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AUSTIN, Texas, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Jones Energy, Inc. (NYSE:JONE) (“Jones Energy” or “the Company”) is pleased to announce that it received notice from the New York Stock Exchange (the “NYSE”) on September 21, 2018 that the Company has regained compliance with the NYSE’s continued listing standards.
As previously announced, on March 23, 2018, the Company received a deficiency notification from the NYSE because the Company’s average closing price per share of Class A common stock over the previous 30 trading days was below $1.00. Jones Energy cured its deficiency by implementing a 20 for 1 reverse stock split, which became effective at 5:00 p.m. Eastern Time on September 7, 2018. As a result, the Company has regained compliance as of market close September 21, 2018, because the closing price per share of the Company’s Class A common stock was above $1.00 per share and was on average above $1.00 for the 30 trading days preceding September 21, 2018. The shares of Class A common stock continued trading on the NYSE without interruption and began trading on a split-adjusted basis on September 10, 2018
As previously announced, on March 23, 2018, the Company received a deficiency notification from the NYSE because the Company’s average closing price per share of Class A common stock over the previous 30 trading days was below $1.00. Jones Energy cured its deficiency by implementing a 20 for 1 reverse stock split, which became effective at 5:00 p.m. Eastern Time on September 7, 2018. As a result, the Company has regained compliance as of market close September 21, 2018, because the closing price per share of the Company’s Class A common stock was above $1.00 per share and was on average above $1.00 for the 30 trading days preceding September 21, 2018. The shares of Class A common stock continued trading on the NYSE without interruption and began trading on a split-adjusted basis on September 10, 2018