Desktop Metal, Inc.: Nasdaq/NYSE listing notice — Desktop Metal receives NYSE non-compliance notice for stock price below $1.00

Desktop Metal, Inc.

NYSE notified Desktop Metal on Nov 22, 2023 that average closing price was below $1.00 over 30 consecutive trading days.
Company has a six-month cure period from Nov 22 to regain compliance with the minimum price requirement.
Desktop Metal may consider a reverse stock split, subject to stockholder approval at next annual meeting.
Under NYSE rules, if a cure requires stockholder approval, price condition can be deemed cured if stock exceeds $1.00 for 30 trading days.
Common stock continues trading on NYSE during cure period, subject to other listing standards.

item 3.01 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

Desktop Metal, Inc. 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

November 22, 2023, Desktop Metal, Inc. (the “Company,” “we,” “us” or “our”) was notified by the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company’s common stock from the NYSE. Pursuant to Section 802.01C, the Company has a period of six months from receipt of the notice to regain compliance with the minimum stock price listing requi

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Source: SEC EDGAR

accession 0001104659-23-122061

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