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Ultra's Stock Delisted from Nasdaq; Nixes Plan for Reverse Stock Split
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Ultra Petroleum Corp. reported that the Nasdaq market has initiated proceedings to delist the Company's common stock, effective August 8, 2019, as a result of the Company not regaining compliance with the $1.00 per share minimum bid price requirement.
The Company expects that its common stock will begin to trade on OTCQX beginning August 8, 2019 and expects to trade under the symbol "UPLC."
After consideration of multiple factors, the Company's board of directors determined that attempting to regain compliance with Nasdaq's continued listing requirement be effecting a reverse stock split would not be in the best interest of the Company at this time.
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