Evolve Transition Infrastructure LP: Nasdaq/NYSE listing notice — Evolve Transition Infrastructure faces NYSE delisting; announces 1-for-30 reverse split effective July 17

Evolve Transition Infrastructure LP

NYSE American delisting proceedings due to low selling price; hearing scheduled for August 8, 2023.
Trading on NYSE suspended; common units continue on OTC market under symbol SNMP.
1-for-30 reverse split effective after OTC market close July 17, 2023; split-adjusted trading July 18.
Units outstanding decrease from ~254.4M to ~8.5M post-split; new CUSIP 30053M203.
FINRA reviewed reverse split documentation but reserves further review, which could delay implementation.

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 0001362705-23-000080

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