Eastman Kodak Company announced that the company has received a continued listing standards notice from the New York Stock Exchange (NYSE) because the average closing price of Kodak’s common stock was less than $1.00 per share over a period of 30 consecutive trading days.
Kodak’s common stock continues to trade on the NYSE. Under NYSE rules, the Company has six months following receipt of the notification to regain compliance with the minimum share price requirement.
Kodak can regain compliance at any time during the six-month cure period if its common stock has a closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period.
Kodak’s Securities and Exchange Commission reporting requirements and debt obligations are not affected by the receipt of the NYSE notification.