Ginkgo Bioworks Holdings announced that it received a notice on May 7 from the NYSE informing the Company that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s Class A common stock was less than $1 per share over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company’s Class A common stock from the NYSE. In accordance with applicable NYSE rules, the Company will notify the NYSE of its intent to regain compliance with applicable NYSE continued listing standards within 10 business days of receiving the notification. NYSE rules give Ginkgo a six-month period to regain compliance with the minimum price criteria. The Company intends to regain compliance with NYSE’s continued listing standards and is considering all available options to do so.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DNA:
- Ginkgo Bioworks downgraded to Underperform from Market Perform at William Blair
- Ginkgo Bioworks files to sell 18.86M shares of common stock for holders
- Ginkgo Bioworks sees 2024 revenue $170M-$190M, consensus $223.21M
- Ginkgo Bioworks reports Q1 EPS (8c), consensus (8c)
- Ginkgo Bioworks Reports First Quarter 2024 Financial Results