Virgin Galactic receives NYSE non-compliance notice for sub-$1.00 stock price; plans reverse split proposal

Virgin Galactic Holdings, Inc

NYSE notice on May 29, 2024: SPCE avg. closing price below $1.00 over 30 trading days.
Company has six months (Cure Period) to regain compliance under NYSE Section 802.01C.
Will seek stockholder approval at June 12, 2024 annual meeting for reverse stock split (ratio 1:2 to 1:20).
If approved and effected, expects trading price to exceed $1.00 and cure deficiency.
SPCE remains listed and trades normally on NYSE during Cure Period.

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