NYSE has an information about need above $1.00 for keep IMH stock.
On November 28, 2007, Impac Mortgage Holdings, Inc. (the "Company") received a notice from NYSE Regulation Inc. ( "NYSE Regulation") that the Company was not in compliance with the New York Stock Exchange ("NYSE") continued listing standard related to maintaining a consecutive thirty day average closing stock price of over $1.00 per common share. At November 27, 2007, the Company's thirty day average price was $0.91 per common share and its absolute closing price was $0.69 per common share. Under NYSE rules, the Company has six months to bring its share price and average price back above $1.00, during which time the Company's common and preferred stock will continue to be listed and traded on the NYSE, subject to ongoing reassessment by NYSE Regulation. Impac has notified NYSE Regulation that it intends to submit plans within the required 10 day period to address the price deficiency. If the share price and average price are not above $1.00 at the expiration of the six-month period, then NYSE Regulation will commence suspension and delisting procedures. In addition, even if such minimum price is achieved and maintained, there can be no assurance that the Company will be able to continue to meet the NYSE's other qualitative or quantitative listing standards for continued listing. NYSE Regulation has informed that Company that it will continue to monitor share price levels and that it reserves the right to take more immediate listing action in the event that the stock trades at levels that are viewed as "abnormally low" on a sustained basis or based on other qualitative factors. Beginning December 5, 2007, the NYSE will make available on its consolidated tape an indicator ".BC" to reflect that the Company is below the NYSE's quantitative continued listing standards.
