Evolve Transition Infrastructure LP: Nasdaq/NYSE listing notice — Evolve faces NYSE delisting proceedings; 1-for-30 reverse split delayed pending FINRA review

Evolve Transition Infrastructure LP

NYSE commenced delisting proceedings on June 6 due to low selling price; trading suspended that day.
Partnership appealed the delisting determination on June 13; stay of delisting pending hearing.
Common units now trade on OTC under symbol SNMP; reverse split originally set for June 14 is delayed.
Reverse split (1:30) delayed because FINRA must review the action after OTC market listing.
New effective date for reverse split to be announced after FINRA completes review.

Key facts

Extracted from this filing and checked against the source text.

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

Evolve Transition Infrastructure LP received a nyse_american delisting notice notice regarding minimum bid price (rules 1003(f)(v)).

Exchange: nyse american
Notice: delisting notice
Deficiency: minimum bid price
Rules: 1003(f)(v)

Exact text from the filing

June 6, 2023 from the NYSE American LLC (“NYSE”) that the Partnership was not in compliance with the continued listing standards set forth in Section 1003(f)(v) of the NYSE American Company Guide and disclosed that NYSE Regulation has determined to commence proceedings to delist the Partnership’s common units representing limited partner interests in the Partnership (“Common Units”) from the NYSE due to the low selling price of the Common Units. On June 13, 2023, the Partnership submitted formal written notice exercising its right to a review of NYSE Regulation’s delisting determination in acc

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Source: SEC EDGAR

accession 0001362705-23-000075

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