Terran Orbital, which is busy building 600 satellites for Rivada Networks amongst others, and is handling something of an investor revolt, is also facing a major challenge from the New York Stock Exchange (NYSE).

Under NYSE rules any share that falls below $1 in value can be de-listed. On October 20th the Exchange formally warned Terran that “it is not in compliance” and if the share stays below $1 for a 30-day trading period it would be de-listed.

Terran, in a statement, said: “The Company plans to notify the NYSE that it intends to cure the stock price deficiency and return to compliance with the applicable NYSE continued listing standards. The Company intends to remain listed on the NYSE and is considering all available options to regain compliance with the NYSE’s continued listing standards, including, but not limited to, a reverse stock split, subject to stockholder approval.”

October 20th saw Terran’s stock trading at about 66 cents per share. It has lost 93 percent of its value since the company floated in its IPO when the share price was $9.89.

Terran is due to unveil its Q3 results on November 14th.

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Categories: Articles, Business

Tags: NYSE, terran, Terran Orbital