Finance & Investing | General News

Cobalt Out of NYSE Compliance as Market Cap Drops Below $50MM

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   |    Wednesday,October 11,2017

[Summary: Cobalt received notice from the NYSE that it is no longer in compliance with listing standards due to its market cap falling below $50 million for more than a 30-day period.

Cobalt intends to submit a business plan to cure this deficiency and return to compliance with NYSE continued listing requirements.]

Original Release:

Cobalt International Energy, Inc. ("Cobalt") (NYSE:CIE) today announced that on October 10, 2017, it was notified by The New York Stock Exchange ("NYSE") that Cobalt is no longer in compliance with the continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual. Specifically, the NYSE notified Cobalt that its average market capitalization for the prior 30 trading-day period is below $50 million and its stockholders' equity is less than $50 million, which are the NYSE minimum requirements under Section 802.01B. In compliance with NYSE procedures, Cobalt intends to notify the NYSE of its intent to submit a business plan to the NYSE within 45 days from its receipt of the NYSE notice to cure this deficiency and return to compliance with NYSE continued listing requirements.


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