DelistingMay 7, 2026, 04:42 PM
New Fortress Energy Receives Nasdaq Delisting Notice for Bid Price
AI Summary
New Fortress Energy Inc. received a notice from Nasdaq on May 1, 2026, indicating non-compliance with the minimum $1.00 bid price requirement for continued listing. The company has 180 calendar days, until October 28, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive trading days. New Fortress Energy plans to monitor its stock and seek stockholder approval for a reverse stock split to address the deficiency, though there is no assurance of success.
Key Highlights
- Received Nasdaq notice on May 1, 2026, for non-compliance with minimum $1.00 bid price.
- Failed to meet Nasdaq Listing Rule 5450(a)(1) due to 30 consecutive trading days below $1.00.
- Granted an initial compliance period of 180 calendar days to regain compliance.
- Must achieve a closing bid price of at least $1.00 for 10 consecutive days by October 28, 2026.
- The notice has no immediate effect on the listing of the Common Stock on Nasdaq.
- Company intends to seek stockholder approval for a reverse stock split to regain compliance.