National Steel gets NYSE $1 ADS price warning
CSN discloses an NYSE price-based non-compliance notice but says its ADSs have since traded back above the $1.00 minimum.
Rhea-AI Filing Summary
Companhia Siderúrgica Nacional (SID) reports that on August 13, 2026 it received a non-compliance notice from the New York Stock Exchange because the average closing price of its American Depositary Shares was below $1.00 per ADS over a consecutive 30‑trading‑day period, triggering Section 802.01C continued listing standards. Under NYSE rules the company has six months from receipt of the notice to regain compliance, and the notice does not immediately delist the ADSs. CSN has informed the NYSE of its intention to cure and is evaluating available alternatives; since receiving the notice, the ADS price has traded above the $1.00 minimum threshold.
Positive
- ADS price has moved back above the $1.00 NYSE minimum after the notice, reducing immediate delisting risk.
Negative
- NYSE notified CSN on August 13, 2026 that its ADSs failed the $1.00 minimum price continued listing standard over 30 trading days, placing the listing in a cure period.
- Failure to regain compliance within the NYSE’s six‑month cure period could ultimately lead to delisting of the company’s ADSs.
Key Figures
Minimum ADS price threshold: $1.00 per ADS
Non-compliance measurement window: 30 trading days
Cure period length: 6 months
+2 more
5 metrics
Minimum ADS price threshold
$1.00 per ADS
NYSE continued listing standard under Section 802.01C
Non-compliance measurement window
30 trading days
Average closing price period during which ADSs were below $1.00
Cure period length
6 months
Time from August 13, 2026 notice for CSN to regain NYSE compliance
Notice receipt date
August 13, 2026
Date CSN received NYSE non-compliance notification
Disclosure date
September 11, 2026
Date of CSN’s notice to the market signed in São Paulo
Key Terms
continued listing standard, American Depositary Shares, Cure Period, forward-looking statements
4 terms
continued listing standard regulatory
"not in compliance with the NYSE’s continued listing standard set forth"
Continued listing standards are the ongoing rules a stock exchange or trading venue requires a company to meet to keep its shares listed, such as minimum share price, market value, shareholder equity, and timely financial reporting. For investors, these standards matter because failure to meet them can trigger warnings or removal from the exchange, which can reduce a stock’s visibility, trading liquidity, and value—similar to how failing building inspections can limit a business’s ability to operate publicly.
Cure Period regulatory
"minimum share price requirement (the “Cure Period”)"
A cure period is a set amount of time given to a borrower, counterparty, or contracting party to fix a missed payment, breach, or other problem before more serious consequences—like penalties, higher interest, or contract termination—kick in. For investors, it matters because it creates a short grace window that can prevent immediate losses and influence the timing and likelihood of recovery; think of it like a few extra days to pay a bill before a service is cut off.
forward-looking statements regulatory
"This press release may contain forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What NYSE issue did SID disclose in this Form 6-K?
SID disclosed that on August 13, 2026 it received an NYSE non-compliance notice because the average closing price of its ADSs was below $1.00 per ADS over a consecutive 30‑trading‑day period under Section 802.01C continued listing standards.
What is the cure period SID has to regain NYSE compliance?
Under NYSE rules, CSN has a six‑month cure period from August 13, 2026, the date it received the non-compliance notice, to regain compliance with the NYSE’s $1.00 per ADS minimum share price requirement.
Are SID’s ADSs being immediately delisted from the NYSE?
No. The notice explicitly states that it does not result in the immediate delisting of CSN’s ADSs from the NYSE. The company remains listed while it attempts to cure the price deficiency within the six‑month cure period.
What actions is SID taking in response to the NYSE notice?
CSN has notified the NYSE of its intention to cure and is actively evaluating all available alternatives to regain compliance with the minimum share price requirement within the six‑month cure period provided by the NYSE rules.
What is the current trading status of SID’s ADSs relative to the $1.00 threshold?
The company states that since receiving the NYSE correspondence, its ADSs have experienced price appreciation and are currently trading above the $1.00 minimum share price threshold required by the NYSE continued listing standard.
Which listing standard is SID currently not in compliance with?
CSN is not in compliance with the NYSE continued listing standard in Section 802.01C of the NYSE Listed Company Manual, which requires an average closing price of at least $1.00 per ADS over a consecutive 30‑trading‑day period.
AI-generated analysis. How Rhea-AI works. Not financial advice.
