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BioAmber Inc. Receives Notice of Non-Compliance from the NYSEMONTREAL, Sept. 13, 2017 /CNW/ - BioAmber Inc. (NYSE: BIOA, TSX: BIOA) announced today that the New York Stock Exchange (NYSE) has notified the Company that it is no longer in compliance with NYSE listing standards because the price of its common stock has fallen below the NYSE's share price rule. The NYSE requires the average closing price of a listed Company's common stock to be at least $1 per share over a consecutive 30 trading-day period. As of September 6, 2017, the 30 trading-day average closing price of the Company's common stock was $0.90. BioAmber was notified of non-compliance on September 8, 2017. Subject to the NYSE's rules, the Company has six months from the date of its receipt of the NYSE notice to regain compliance with the minimum share price rule, or until the Company's next annual meeting of shareholders, if shareholder approval is required to cure the price deficiency (as would be the case for a reverse stock split). During that time, the Company's common stock will continue to be listed and will trade on the NYSE, subject to the Company's continued compliance with the NYSE's other applicable listing rules. The Company is currently in compliance with all othe NYSE listing rules. During the cure period, the Company's common stock will continue to be listed on the NYSE. The Company's common stock will continue to trade under the symbol "BIOA," but will have an added symbol of ".BC" to indicate that the Company is below compliance with the NYSE's listing standards. The NYSE notification does not affect the Company's business operations or its Securities and Exchange Commission ("SEC") or applicable Canadian reporting requirements, and does not constitute an event of default under any of the Company's debt obligations. About BioAmber Forward-Looking Statements SOURCE BioAmber Inc. |