DelistingJul 24, 2026, 05:26 PM
Surf Air Mobility Receives NYSE Delisting Notice; Approves Reverse Split
AI Summary
Surf Air Mobility Inc. received a notice from the NYSE indicating non-compliance with the $1.00 minimum average closing price rule. The company's common stock traded below $1.00 for 30 consecutive days. Surf Air Mobility intends to regain compliance within the six-month cure period, potentially through organic means or a reverse stock split, which shareholders approved at the Annual Meeting. Additionally, shareholders elected two Class C directors and ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor.
Key Highlights
- Surf Air Mobility received NYSE notice for non-compliance with $1.00 minimum average closing price.
- Company's average closing price was less than $1.00 over 30 consecutive trading days.
- Surf Air Mobility has a six-month period to regain compliance with NYSE listing standards.
- Shareholders approved an amendment for a reverse stock split (2:1 to 6:1 ratio).
- Tyler Painter elected as Class C director with 29,406,456 votes.
- Sudhin Shahani elected as Class C director with 29,879,175 votes.
- PricewaterhouseCoopers LLP's appointment as auditor ratified with 59,170,909 votes.
Price Impact
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