Spire and Momentus receive stock exchange delisting warnings
Spire Global on the New York Stock Exchange on August 17, 2021.
Source: New York Stock Exchange
The two space companies received delisting warnings on Friday, according to securities reports. The stock prices of both venture companies fell below one dollar per share.
Small Satellite Builder and Data Specialist spire global Received notice from New York Stock Exchange, Spaceship Delivery Company Momentus I got a notification from Nasdaq.
Under their respective exchanges’ compliance rules, both companies have 180 days, or about six months, to restore their stock prices above $1 a share.
Spire shares closed at 69 cents a share on Friday after dipping below $1 for the first time on March 7.
Momentus shares fell below $1 on February 7, closing at 63 cents per share.
Both companies have pointed out the possibility of conducting a reverse stock split to restore compliance.
Spire Makes Public Market Debut After completing the SPAC merger in August 2021. The company’s annual subscription revenue he reached $100 million, Announced in 4th Quarter Resultsand continues to reduce losses as it aims to be positive free cash flow in about a year.
Momentus also debuts in August 2021, following its own SPAC merger. After a tumultuous management change, the company has struggled to launch its spacecraft platform business. Earnings were minimal in the fourth quarter, but we hope to fly multiple missions this year.
The warning is that fellow space company Astra Extension from Nasdaq To regain compliance after receiving delisting warnings last year.
Summarize this content to 100 words Spire Global on the New York Stock Exchange on August 17, 2021.Source: New York Stock ExchangeThe two space companies received delisting warnings on Friday, according to securities reports. The stock prices of both venture companies fell below one dollar per share.Small Satellite Builder and Data Specialist spire global Received notice from New York Stock Exchange, Spaceship Delivery Company Momentus I got a notification from Nasdaq.Related investment newsUnder their respective exchanges’ compliance rules, both companies have 180 days, or about six months, to restore their stock prices above $1 a share.Spire shares closed at 69 cents a share on Friday after dipping below $1 for the first time on March 7.Momentus shares fell below $1 on February 7, closing at 63 cents per share.Sign up here to receive CNBC’s weekly Investing in Space newsletter.Both companies have pointed out the possibility of conducting a reverse stock split to restore compliance.Spire Makes Public Market Debut After completing the SPAC merger in August 2021. The company’s annual subscription revenue he reached $100 million, Announced in 4th Quarter Resultsand continues to reduce losses as it aims to be positive free cash flow in about a year.Momentus also debuts in August 2021, following its own SPAC merger. After a tumultuous management change, the company has struggled to launch its spacecraft platform business. Earnings were minimal in the fourth quarter, but we hope to fly multiple missions this year.The warning is that fellow space company Astra Extension from Nasdaq To regain compliance after receiving delisting warnings last year.
https://www.cnbc.com/2023/03/24/spire-momentus-get-stock-exchange-delisting-warnings.html Spire and Momentus receive stock exchange delisting warnings