Filing Analysis
Nine Energy Service, Inc. filed an 8-K to furnish its quarterly results of operations and financial condition for the period ended September 30, 2024.
📋 Key Facts
- The filing was made on October 31, 2024.
- The company issued a press release (Exhibit 99.1) regarding its Q3 2024 financial results.
- The information provided under Item 2.02 is furnished but not 'filed' for purposes of Section 18 liability.
Nine Energy Service, Inc. received a notice from the NYSE stating it no longer meets continued listing standards due to falling below minimum market capitalization and stockholders' equity thresholds. The company intends to submit a plan to regain compliance within 45 days.
🚩 Red Flags
- Delisting notice from NYSE (quantitative deficiency).
- Market capitalization and stockholders' equity both below $50M threshold.
- Risk of delisting if stock price falls below $1.00 for 30 consecutive days.
- Potential reduction in liquidity and ability to raise equity financing.
📋 Key Facts
- Received NYSE notice on October 21, 2024.
- Failure to meet Section 802.01B of the NYSE Listed Company Manual.
- Average global market capitalization was <$50M over a 30-day period ending Oct 18, 2024.
- Last reported stockholders' equity was <$50M.
- Company has 45 days from receipt of notice to submit a compliance plan.
- The company will be assigned a '.BC' indicator on the NYSE ticker 'NINE'.
- An 18-month cure period is available if the compliance plan is accepted.
Nine Energy Service, Inc. filed an 8-K to furnish its quarterly results of operations and financial condition for the period ended June 30, 2024 via a press release.
📋 Key Facts
- Report date: August 5, 2024
- Reporting period: Quarter ended June 30, 2024
- The filing consists of a press release (Exhibit 99.1) regarding financial results.
- Information is furnished under Item 2.02 and is not considered 'filed' for purposes of Section 18 liability.
Nine Energy Service, Inc. reported the results of its 2024 Annual Meeting of Stockholders held on May 3, 2024. The meeting included the election of three Class III Directors and the ratification of PricewaterhouseCoopers LLP as independent auditors.
📋 Key Facts
- Annual Meeting held on May 3, 2024.
- Three nominees (Mark E. Baldwin, Ernie L. Danner, Ann G. Fox) were elected to the Board for a three-year term.
- PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for fiscal year ending Dec 31, 2024.
- Say-on-pay advisory votes regarding executive compensation and voting frequency were approved by stockholders.
- The company issued a press release on May 6, 2024, regarding Q1 2024 results of operations (furnished but not filed).
Nine Energy Service, Inc. issued a press release regarding its financial results for the quarter and fiscal year ended December 31, 2023.
📋 Key Facts
- Report date: March 7, 2024
- Reporting period: Quarter and year ended December 31, 2023
- The filing is a standard announcement of results of operations and financial condition via Exhibit 99.1.