NYSE delists Velo3D securities
The company has fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000
The New York Stock Exchange (NYSE) has announced that the staff of NYSE Regulation has determined to commence proceedings to delist two securities of Velo3D, a leading metal 3D printing company catering mostly to the defense and aerospace industries, from the NYSE. Trading of the company’s securities, including VLD (common stock, par value $0.00001 per share) and VLD WS (warrants to purchase one share of common stock, each at an exercise price of $402.50 per share) are suspended immediately.
NYSE Regulation reached its decision to delist Velo3D’s securities pursuant to Section 802.01B of the NYSE’s Listed Company Manual because the company has fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000.
The company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the company’s securities upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff’s decision.
