Paragon (PRGN) Receives Listing Noncompliance Leter from NYSE
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Paragon Shipping Inc. (NYSE: PRGN), has received notice from the New York Stock Exchange, Inc. indicating that the Company is no longer in compliance with the NYSE's continued listing standards because the average closing price of the Company's common stock was less than $1.00 per share over a consecutive 30 trading-day period.
Subject to the NYSE's rules, the Company has a six month cure period following receipt of the NYSE notice to bring its share price and average share price back above $1.00. During this time, the Company's common stock will continue to be listed and trade on the NYSE.
The Company will continue to monitor this situation and intends to cure this deficiency in accordance with NYSE rules.
Subject to the NYSE's rules, the Company has a six month cure period following receipt of the NYSE notice to bring its share price and average share price back above $1.00. During this time, the Company's common stock will continue to be listed and trade on the NYSE.
The Company will continue to monitor this situation and intends to cure this deficiency in accordance with NYSE rules.
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