CSI Compressco LP Regains Compliance With Nasdaq Minimum Closing Bid Price Rule
CSI Compressco LP announced it has regained compliance with NASDAQ Listing Rule 5450(a)(1), which mandates a minimum closing bid price of $1.00 per unit.
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Rhea-AI Summary
CSI Compressco LP announced it has regained compliance with NASDAQ Listing Rule 5450(a)(1), which mandates a minimum closing bid price of $1.00 per unit. This determination, received on August 17, 2020, confirms that CSI Compressco's common units have maintained a closing bid price of at least $1.00 for over ten consecutive trading days. As a result, the prior bid price deficiency matter is now considered closed by NASDAQ.
Positive
- Regained compliance with NASDAQ Listing Rule 5450(a)(1).
- Common units maintained a closing bid price of at least $1.00 for over ten consecutive trading days.
Negative
- None.
Details
News Market Reaction – CCLP
The recorded move for CCLP in the trading session of this news was +2.68%.
Data tracked by StockTitan Argus. Session date unavailable.
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THE WOODLANDS, Texas, Aug. 18, 2020 /PRNewswire/ -- CSI Compressco LP ("CSI Compressco" or the "Partnership") (NASDAQ: CCLP) announced that it received a letter from the Nasdaq Stock Market LLC ("Nasdaq") on August 17, 2020 which contained a NASDAQ compliance determination that the Partnership has regained compliance with NASDAQ Listing Rule 5450(a)(1), which requires listed securities to maintain a minimum closing bid price of
CSI Compressco Overview
CSI Compressco is a provider of compression services and equipment for natural gas and oil production, gathering, artificial lift, transmission, processing, and storage. CSI Compressco's compression and related services business includes a fleet of more than 4,900 compressor packages providing approximately 1.18 million in aggregate horsepower, utilizing a full spectrum of low-, medium- and high-horsepower engines. CSI Compressco also provides well monitoring and automated sand separation services in conjunction with compression and related services in certain Latin American markets. CSI Compressco's aftermarket business provides compressor package reconfiguration and maintenance services. CSI Compressco's customers comprise a broad base of natural gas and oil exploration and production, midstream, transmission, and storage companies operating throughout many of the onshore producing regions of the United States, as well as in a number of foreign countries, including Mexico, Canada and Argentina. CSI Compressco is managed by CSI Compressco GP Inc., which is an indirect, wholly owned subsidiary of TETRA Technologies, Inc. (NYSE: TTI).
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SOURCE CSI Compressco LP
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