GrafTech Receives Continued Listing Standards Notice from NYSE
08 8월 2024 - 5:30AM
Business Wire
GrafTech International Ltd. (NYSE: EAF) (“GrafTech” or the
“Company”) announced today that it received written notice (the
“Notice”) from the New York Stock Exchange (the “NYSE”) that it is
not in compliance with the NYSE’s continued listing standards
because the average closing price of the Company’s common stock per
the Notice was less than $1.00 per share over the consecutive 30
trading-day period ended August 5, 2024. The Notice does not result
in the immediate delisting of the Company’s common stock from the
NYSE.
In accordance with applicable NYSE rules, the Company plans to
timely 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 can regain compliance at
any time within a six-month cure period following its receipt of
the Notice if, on the last trading day of any calendar month during
such cure period, the Company has both: (i) a closing share price
of at least $1.00 and (ii) an average closing share price of at
least $1.00 over the 30 trading-day period ending on the last
trading day of the applicable calendar month.
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. The NYSE
rules provide for an extension to the six-month cure period if the
action required to cure the price condition requires stockholder
approval, in which case, the action needs to be approved by no
later than the Company’s next annual stockholder’s meeting and
promptly implemented thereafter.
The Notice has no immediate impact on the listing of the
Company’s common stock, which will continue to be listed and traded
on the NYSE during such cure period, subject to the Company’s
compliance with other NYSE continued listing standards.
Furthermore, the Notice is not anticipated to impact the ongoing
business operations of the Company or its reporting requirements
with the U.S. Securities and Exchange Commission (“SEC”).
About GrafTech
GrafTech International Ltd. is a leading manufacturer of
high-quality graphite electrode products essential to the
production of electric arc furnace steel and other ferrous and
non-ferrous metals. The Company has a competitive portfolio of
low-cost, ultra-high power graphite electrode manufacturing
facilities, with some of the highest capacity facilities in the
world. We are the only large-scale graphite electrode producer that
is substantially vertically integrated into petroleum needle coke,
our key raw material for graphite electrode manufacturing. This
unique position provides us with competitive advantages in product
quality and cost.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements reflect our current views with respect to, among other
things, financial projections, plans and objectives of management
for future operations, and future economic performance. Examples of
forward-looking statements include, among others, statements we
make regarding future estimated volume, pricing and revenue,
anticipated levels of capital expenditures and cost of goods sold,
anticipated reduction in our costs resulting from our cost
rationalization initiatives and one-time costs of implementation
and guidance relating to adjusted EBITDA and free cash flow. You
can identify these forward-looking statements by the use of
forward-looking words such as “will,” “may,” “plan,” “estimate,”
“project,” “believe,” “anticipate,” “expect,” “foresee,” “intend,”
“should,” “would,” “could,” “target,” “goal,” “continue to,”
“positioned to,” “are confident,” or the negative versions of those
words or other comparable words. Any forward-looking statements
contained in this press release are based upon our historical
performance and on our current plans, estimates and expectations
considering information currently available to us. The inclusion of
this forward-looking information should not be regarded as a
representation by us that the future plans, estimates, or
expectations contemplated by us will be achieved. Our expectations
and targets are not predictions of actual performance and
historically our performance has deviated, often significantly,
from our expectations and targets. These forward-looking statements
are subject to various risks and uncertainties and assumptions
relating to our operations, financial results, financial condition,
business, prospects, growth strategy and liquidity. Accordingly,
there are or will be important factors that could cause our actual
results to differ materially from those indicated in these
statements. We believe that these factors include, but are not
limited to: the risk that the Notice and noncompliance with NYSE
continued listing standards may impact the Company’s results of
operations, business operations and reputation and the trading
prices and volatility of the Company’s common stock; risks and
uncertainties associated with our ability to access the capital and
credit markets could adversely affect our results of operations,
cash flows and financial condition; our ability to regain
compliance with NYSE continued listing standards within the
applicable cure period, including, if necessary, our ability to get
stockholder approval to effectuate a reverse stock split or any
other action requiring stockholder approval; and our ability to
continue to meet NYSE continued listing standards. These factors
should not be construed as exhaustive and should be read in
conjunction with the Risk Factors and other cautionary statements
that are included in our most recent Annual Report on Form 10-K and
other filings with the SEC. The forward-looking statements made in
this press release relate only to events as of the date on which
the statements are made. Except as required by law, we do not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240807936979/en/
Michael Dillon 216-676-2000 investor.relations@graftech.com
GrafTech (NYSE:EAF)
과거 데이터 주식 차트
부터 7월(7) 2024 으로 8월(8) 2024
GrafTech (NYSE:EAF)
과거 데이터 주식 차트
부터 8월(8) 2023 으로 8월(8) 2024