Danimer Scientific receives continued listing standard notice from NYSE

Danimer Scientific announced that it received a notice from the New York Stock Exchange on January 23, 2024, that the company is not currently in compliance with the NYSE’s continued listing standard requiring listed-company stock to maintain an average closing price of not less than $1.00 per share over a period of thirty consecutive trading days. The Notice does not result in the immediate delisting of the company’s Common Stock from the NYSE. On January 26, 2024, the company notified the NYSE that it intends to cure the stock price deficiency and return to compliance with the NYSE’s minimum share price standard within the six-month period following receipt of the Notice. The company’s Common Stock will continue to be listed and trade on the NYSE during this period, subject to its compliance with other NYSE continued listing standards. The receipt of the Notice does not affect the company’s business, operations or reporting requirements with the Securities and Exchange Commission. The company intends to consider all available options to cure its non-compliance with the NYSE minimum share price standard. The company can regain compliance with the minimum share price requirement at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period or on the last day of the cure period, the company has (i) a closing share price of at least $1.00, and (ii) an average closing share price of at least $1.00 over the 30 trading-day periods ending on the last trading day of that month.