secwatch.observer — SEC 8-K summary
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Issuer:     Virgin Galactic Holdings, Inc (SPCE)
CIK:        0001706946
Form:       8-K
Filed at:   2024-05-29T23:59:59+00:00
Accession:  0001193125-24-149258
Event type: regulatory
Sentiment:  negative
Materiality: 0.65
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706946/000119312524149258/0001193125-24-149258-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706946/000119312524149258/d835429d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-149258

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