Battalion Oil (BATL) keeps NYSE American listing under compliance plan to 2026

Rhea-AI Filing Summary

Battalion Oil Corporation received notice from NYSE American that its plan to regain compliance with the exchange’s listing standards has been accepted. The company had previously fallen below required stockholders’ equity thresholds tied to multi-year net losses under Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide. NYSE American has granted a compliance period through November 30, 2026, during which the exchange will monitor progress under the plan and may still initiate delisting if progress is insufficient. Battalion’s common stock will continue trading on NYSE American under the symbol BATL pursuant to an exception and remains subject to all other listing requirements. The company states that the listing issue does not affect its ongoing operations or SEC reporting, though there is no assurance it will regain compliance by the deadline.

Positive

• None.

Negative

• BATL remains noncompliant with NYSE American equity listing standards and is only continuing to trade under an exception while working under an exchange‑monitored compliance plan through November 30, 2026, with explicit risk of potential delisting if progress is not satisfactory.

Insights

Equity market listing and governance analyst

BATL keeps NYSE American listing under a plan but faces delisting risk if equity levels don’t improve by November 2026.

Battalion Oil Corporation has secured NYSE American’s acceptance of its compliance plan after falling below stockholders’ equity thresholds tied to multi-year losses in Sections 1003(a)(i) and 1003(a)(ii) of the Company Guide. The company now has until November 30, 2026 to execute this plan while the exchange monitors its progress.

The stock continues to trade on NYSE American under an exception, which preserves market visibility and liquidity for now but underscores that the listing status is conditional. NYSE American explicitly reserves the right to begin delisting procedures if progress under the plan is not satisfactory, regardless of the company’s then-current status.

The company notes that noncompliance does not affect ongoing business operations or SEC reporting, yet it cautions there is no assurance it will regain compliance by the compliance deadline. Future developments could further affect its ability to meet continued listing standards, so subsequent company disclosures will be key to understanding how its equity position evolves relative to these requirements.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 19, 2025 

Battalion Oil Corporation

(Exact name of registrant as specified in its charter)

Delaware		001-35467		20-0700684
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

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820 Gessner Road Suite 1100 Houston, Texas		77024
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (832) 538-0300

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(Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock par value $0.0001		BATL		NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 19, 2025, Battalion Oil Corporation (the “Company”) received a letter (the “Acceptance Letter”) from NYSE American LLC (the “NYSE American”) notifying the Company that its plan of compliance (the “Plan”) has been accepted. The Plan outlines actions the Company intends to take to regain compliance with the continued listing standards of the NYSE American.

As previously disclosed, the Company received a notice from NYSE American on May 30, 2025, stating that it was not in compliance with Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide (the “Company Guide”). Section 1003(a)(i) requires a listed company to maintain stockholders’ equity of at least $2 million if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years. Section 1003(a)(ii) requires stockholders’ equity of at least $4 million if the company has reported such losses in three of its four most recent fiscal years.

The Acceptance Letter grants the Company a compliance period through November 30, 2026 (the “Compliance Deadline”), during which NYSE American staff will monitor the Company’s progress under the Plan. If the Company fails to make progress consistent with the Plan, NYSE American may initiate delisting procedures, regardless of the Company’s listing status at that time.

The Company’s common stock, par value $0.001 per share (the “Common Stock”), will continue to be listed on the NYSE American under the symbol “BATL,” pursuant to an exception, and subject to continued compliance with other applicable listing requirements.

The Company’s current noncompliance does not affect its ongoing business operations or its reporting obligations with the U.S. Securities and Exchange Commission.

The Company is actively evaluating all available options to regain compliance. However, there can be no assurance that the Company will be able to make sufficient progress under the Plan, that NYSE American will find such progress satisfactory, or that the Company will regain compliance by the end of the Compliance Deadline. Additionally, future developments may adversely impact the Company’s ability to meet the continued listing standards of the Company Guide or comply with other NYSE American requirements.

Item 9.01 Exhibits.

Exhibit No.		Description
99.1	​	Press Release issued on August 25, 2025
104	​	Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BATTALION OIL CORPORATION
August 25, 2025	By:	/s/ Matthew B. Steele
	Name:	Matthew B. Steele
	Title:	Chief Executive Officer

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FAQ

Why did Battalion Oil Corporation (BATL) receive a notice from NYSE American?

Battalion Oil Corporation received a notice because it was not in compliance with Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide, which require minimum levels of stockholders’ equity for companies that have reported losses from continuing operations and/or net losses over specified multi-year periods.

What did NYSE American approve for Battalion Oil Corporation (BATL)?

NYSE American accepted Battalion Oil Corporation’s plan of compliance, which outlines steps the company intends to take to regain compliance with the exchange’s continued listing standards, and granted a compliance period through November 30, 2026.

How long does Battalion Oil Corporation have to regain NYSE American listing compliance?

Battalion Oil Corporation has a compliance period through November 30, 2026, during which NYSE American staff will monitor its progress under the accepted plan of compliance.

Will Battalion Oil Corporation’s common stock continue trading on NYSE American?

Yes. The company’s common stock, par value $0.001 per share, will continue to be listed on NYSE American under the symbol BATL pursuant to an exception, so long as it continues to meet other applicable listing requirements.

Does Battalion Oil Corporation’s NYSE American noncompliance affect its business operations?

The company states that its current noncompliance with NYSE American listing standards does not affect its ongoing business operations or its reporting obligations with the U.S. Securities and Exchange Commission.

What risks does Battalion Oil Corporation highlight regarding its NYSE American listing status?

Battalion Oil Corporation notes there can be no assurance it will make sufficient progress under the plan, that NYSE American will find that progress satisfactory, or that it will regain compliance by the compliance deadline, and future developments may adversely affect its ability to meet continued listing standards or comply with other NYSE American requirements.