Virgin Galactic receives NYSE continued listing standard notice

Virgin Galactic Holdings announced that on May 29, 2024 it received a notice from the New York Stock Exchange that the average closing price per share of its common stock did not exceed $1.00 over a 30 consecutive trading-day period, which is required for continued listing on the NYSE. The company has notified the NYSE of its intent to regain compliance with the continued listing standards by seeking stockholder approval at its upcoming annual meeting of stockholders on June 12, 2024 to complete a reverse stock split of the company’s common stock. Virgin Galactic filed a proxy statement with the U.S. Securities and Exchange Commission on April 29, 2024 that contains additional details about the proposed reverse stock split.