Allego Announces Receipt Of NYSE Notice Of Non-Compliance With Continued Listing Standards
Portfolio Pulse from Benzinga Newsdesk
Allego N.V. (NYSE:ALLG), a leading electric vehicle charging network in Europe, received a notice from the NYSE for not meeting the minimum share price requirement of $1.00 over a 30-day period. The company has six months to regain compliance, with options including a reverse share split. The notice does not immediately affect Allego's NYSE listing or operations.
April 12, 2024 | 8:08 pm
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Allego received a NYSE non-compliance notice for its share price falling below $1.00, with six months to regain compliance.
The receipt of a non-compliance notice from the NYSE typically exerts downward pressure on a company's stock as it raises concerns about the company's financial health and market perception. Although Allego has options to regain compliance, the potential for a reverse stock split or other measures to address the share price issue could lead to investor uncertainty and negatively impact the stock price in the short term.
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