SES AI Corporation announced on September 26, 2024, that it received a notice from the New York Stock Exchange (NYSE) for non-compliance with Section 802.01C of the NYSE Listed Company Manual. The non-compliance was due to the average closing price of its Class A common stock being less than $1.00 per share over a period of 30 consecutive trading days.
The company stated its intention to respond to the NYSE within 10 business days to outline its plan to cure the deficiency and regain compliance. SES AI can regain compliance within a six-month period if its Class A common stock achieves a closing price of at least $1.00 and an average closing price of at least $1.00 over a 30 trading-day period.
During this cure period, SES AI's Class A common stock will continue to be listed and traded on the NYSE, provided the company complies with other listing standards. This notice highlights a challenge for the company in maintaining its listing status.
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