BETHESDA, Md. (News release) -- Enviva Inc. announced that on January 23, 2024 it received notification (the "Notice") from the New York Stock Exchange (the "NYSE") that the Company is no longer in compliance with NYSE continued listing criteria that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30-trading-day period.
The Company can regain compliance at any time within the six-month cure period following receipt of the Notice if, on the last trading day of any calendar month during such cure period, the Company has both (i) a closing share price of at least $1.00 and (ii) an average closing share price of at least $1.00 over the 30-trading-day period ending on the last trading day of the applicable calendar month.
The Notice has no immediate impact on the listing of the Company's shares of common stock (the "Common Stock"), which will continue to be listed and traded on the NYSE during the cure period, subject to the Company's compliance with the other listing requirements of the NYSE. The Common Stock will continue to trade under the symbol "EVA," but will have an added designation of ".BC" to indicate that the Company currently is not in compliance with the NYSE's continued listing requirements. If the Company is unable to regain compliance during the cure period, the NYSE may initiate procedures to suspend and delist the Common Stock.
The Notice does not affect the Company's ongoing business operations nor its reporting requirements with the Securities and Exchange Commission (the "SEC").