NYSE Moves to Delist SES AI Warrants Over Low Price
SES sits 22% above its 52-week low of $0.491.
Summary
The NYSE is commencing delisting proceedings for SES AI's warrants due to their low trading price. This follows the company's earlier stock delisting notice in July after shares averaged below $1.00 for 30 consecutive days. The warrant action adds another layer of exchange compliance pressure, though the warrants are a separate security from the common stock. The company has not yet announced a plan to cure the warrant deficiency, and the stock remains under $1.00 at $0.5995. Watch for any company response or appeal, which could clarify the timeline for both the stock and warrant listings.
At the time of this announcement, SES was trading at $0.60 on NYSE in the Technology sector, with a market capitalization of approximately $225.9M. The 52-week trading range was $0.49 to $3.73. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.