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Weatherford Falls Out of NYSE Compliance as Stock Hovers Below $1.00
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Weatherford has received notice from the NYSE that the company is not in compliance with the continued listing standard due to the company's stock price falling below $1.00 per share over a period of 30 consecutive trading days.
Weatherford intends to cure the $1.00 per share deficiency and has six months to regain compliance.
The Company intends to regain compliance by completing its previously announced company-wide transformation plan designed to improve its 2017 EBITDA run-rate by an incremental $1 billion by year-end 2019. The Company may also explore other available options, including a reverse stock split, if appropriate.
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