Newpark Resources Regains Compliance With NYSE Listing Standards

Rhea-AI Summary

On December 3, 2020, Newpark Resources (NYSE: NR) announced it has regained compliance with New York Stock Exchange (NYSE) listing standards. This follows a previous notice on November 4, 2020, indicating non-compliance due to its average closing stock price falling below $1.00 during a 30-day period. As of November 30, 2020, Newpark's closing price exceeded $1.00, leading to the removal of the '.BC' indicator from its symbol. The Company supplies products and services across various industries including oil and gas and renewable energy.

Positive

• Regained compliance with NYSE listing standards.
• Closing price exceeded $1.00 as of November 30, 2020.

Negative

• None.

News Market Reaction – NR

-1.81%

-1.81% News Effect

On the day this news was published, NR declined 1.81%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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THE WOODLANDS, Texas, Dec. 3, 2020 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) ("Newpark" or the "Company") announced today that it received written notification from the New York Stock Exchange (the "NYSE") that it has regained compliance with the NYSE continued listing standards.

As previously disclosed, on November 4, 2020, the Company received formal notice from the NYSE that it was not in compliance with the NYSE's continued listing standards as a result of the average closing price of the Company's common stock being less than $1.00 per share during a consecutive 30 trading-day period.

The Company regained compliance after its closing share price on November 30, 2020 and its average closing share price for the 30 trading-day period ending November 30, 2020 both exceeded $1.00. Accordingly, the Company has resumed compliance under the NYSE continued listing standard and the ".BC" indicator following the Company's symbol "NR" will be removed by the NYSE.

Newpark Resources, Inc. is a geographically diversified supplier providing products, as well as rentals and services to a variety of industries, including oil and gas exploration, electrical transmission & distribution, pipeline, renewable energy, petrochemical, and construction industries. For more information, visit our website at www.newpark.com.

Contacts: Gregg Piontek
Senior Vice President & Chief Financial Officer
Newpark Resources, Inc.
gpiontek@newpark.com
281-362-6800

 

View original content:http://www.prnewswire.com/news-releases/newpark-resources-regains-compliance-with-nyse-listing-standards-301185521.html

SOURCE Newpark Resources, Inc.

FAQ

What is the significance of Newpark Resources regaining compliance with NYSE standards?

Regaining compliance indicates that Newpark Resources has stabilized its stock price, helping to maintain its listing on the NYSE.

When did Newpark Resources receive the initial notice of non-compliance from NYSE?

Newpark received the initial notice of non-compliance on November 4, 2020.

What price level did Newpark Resources' stock need to exceed to regain compliance?

Newpark's stock price needed to exceed $1.00 to regain compliance with NYSE listing standards.

What is the current symbol for Newpark Resources on the NYSE?

The current symbol for Newpark Resources on the NYSE is 'NR'.

What industries does Newpark Resources serve?

Newpark Resources serves various industries including oil and gas exploration, renewable energy, and construction.