voxeljet AG Receives Cure Letter from New York Stock Exchange
FRIEDBERG, Germany–(BUSINESS WIRE)–voxeljet AG (NYSE: VJET) (the “Company”, or “voxeljet”), a leading provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers, today announced that it had received a notice letter from the New York Stock Exchange (the “NYSE”) on July 1, 2020 that it has regained full compliance with the NYSE’s minimum average share price listing requirement. Section 802.01C of the NYSE’s Listed Company Manual requires that a company’s common stock trade at a minimum average closing price of $1.00 over a consecutive 30 trading-day period (the “Minimum Average Price Requirement”). The Company regained compliance after its average closing American Depositary Share price for the consecutive 30-days of trading ending June 30, 2020 was above the Minimum Average Price Requirement.
As previously disclosed in the filings with the SEC, the Company currently remains out of compliance with the continued listing standard set forth in Section 802.01B, which requires that the Company’s average global market capitalization over a consecutive 30 trading-day period be greater than $50 million and, at the same time, its shareholders’ equity be greater than $50 million. The NYSE accepted the Company's proposed compliance plan to regain compliance with Section 802.01B, and the Company has until May 4, 2021 to regain compliance with this listing standard.
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