NYSE Flags Equus for Sub-$1 Share Price, Company Weighs Reverse Split
EQS is trading near its 52-week low of $0.765 (9.8% above the low) on light trading volume (0.1× avg).
Summary
Equus Total Return received an NYSE notice on October 6 that its average closing price fell below $1.00 over 30 consecutive trading days, triggering non-compliance with continued listing standards. The notice is a deficiency, not a delisting, and trading continues. The company plans to notify NYSE by October 20 of its intent to cure and is considering a reverse stock split among other alternatives. This follows an August 10-Q disclosing $5 million in defaulted notes and loans, underscoring financial strain. The stock trades at $0.84, leaving a narrow path to regain compliance within the six-month cure period.
Updates
· SEC 8-K — Equus filed an 8-K on October 13 disclosing the NYSE notice and its plan to notify NYSE by October 20 of intent to cure.
At the time of this announcement, EQS was trading at $0.84 on NYSE in the Finance sector, with a market capitalization of approximately $12.3M. The 52-week trading range was $0.77 to $2.43. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.