3D printing service provider Shapeways (SHPW) has been notified by the New York Stock Exchange (NYSE) that it’s not in compliance with the exchange’s continued listing standards.
NYSE requirements mandate that each listed company’s stock must maintain a minimum average closing price of $1.00 per share over a consecutive 30-day trading period. Shapeways’ stock hasn’t traded at above $1.00 since July 14, 2022, and while the notice has no immediate impact on its listed status, if it’s unable to regain compliance within six months, it may find itself delisted.
In response to the notice, Shapeways has said it intends to notify the NYSE of its strategy to return to compliance by August 29, 2022, with options such as a reverse stock split actively being considered. If the company were to opt for such a move, its outstanding share count would be reduced in a way that…
