On December 26, Cloud Peak Energy was notified by the New York Stock Exchange (NYSE) that the average closing price of the company’s shares of common stock had fallen below $1 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE. Under the NYSE’s rules, the company has six months following receipt of the notification to regain compliance with the minimum share price requirement.
As required by the NYSE, Cloud Peak said it would notify the exchange within 10 business days of its intent to cure the deficiency. The company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period, its common stock has a closing share price of at least $1 and an average closing share price of at least $1 over the 30-trading day period ending on the last trading day of that month.
