Bonanza Creek Energy (NYSE:BCEI) says it has been notified by the NYSE that it is not in compliance with continued listing standards requiring the trailing 30-day average closing share price to remain above $1.00.
The company says it will notify the NYSE of its intention to regain compliance within the Exchange's six month cure period.
My guess now is that since BCEI opened above $1.00... this will keep them from being delisted.
Separately, BCEI says it will pay interest on its senior unsecured notes due 2023; interest had been due on Aug. 1, but the company elected at that time not to make the payment and enter into a 30-day grace period.
However, this should be more important than being delisted. I think once this payment is made you can throw BK out the window IMHO.
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