FLOTEK INDUSTRIES INC/CN/ (FTK): Nasdaq/NYSE listing notice — Flotek receives NYSE notice for below-$1.00 stock price; CEO extended to June 30

FLOTEK INDUSTRIES INC/CN/

NYSE notified Flotek on Apr 12, 2023 that avg closing price was below $1.00 for 30 consecutive trading days.
Company has six months to cure; stock trades under symbol FTK with ".BC" designation.
Options to regain compliance include a reverse stock split (ratio range 1:3 to 1:6) pre-approved by shareholders.
Interim CEO Harsha V. Agadi's term extended to June 30, 2023; eligible for a one-time bonus based on performance.

item 3.01 item 802.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

FLOTEK INDUSTRIES INC/CN/ received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).

Exchange: nyse
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 802.01C

Exact text from the filing

April 12, 2023, Flotek Industries, Inc. (the “Company”) received written notice from the New York Stock Exchange (the “NYSE”) notifying it that the average closing price of the Company’s common stock over a period of 30 consecutive trading days was below the minimum $1.00 per share requirement for continued listing on the NYSE under Item 802.01C of the NYSE Listed Company Manual. In accordance with applicable NYSE procedures, the Company plans to notify the NYSE of its intent to cure the $1.00 per share deficiency. Based on the applicable NYSE procedures, the Company has six months following t

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2 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

FLOTEK INDUSTRIES INC/CN/ filing history →

Source: SEC EDGAR

accession 0000928054-23-000063

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