LiveWire Regains NYSE Compliance, Averts Delisting After Stock Rebounds Above $1
LVWR sits 59% above its 52-week low of $0.648.
Summary
LiveWire has regained compliance with the NYSE's minimum share price requirement, the company announced Monday. The exchange notified LiveWire on August 3 that its average closing price over the prior 30 trading days had climbed back above $1.00, curing the deficiency flagged in a July 29 delisting notice. The stock now trades around $1.03, giving it a thin cushion. The reinstatement removes an immediate existential threat for the electric motorcycle maker, which has been burning cash and relying on a $75M term loan and ATM program to fund operations. The next test is whether the company can sustain the share price and meet other listing standards as it integrates the Dust Moto acquisition and ramps S4 Honcho production.
At the time of this announcement, LVWR was trading at $1.03 on NYSE in the Manufacturing sector, with a market capitalization of approximately $211.7M. The 52-week trading range was $0.65 to $6.44. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.