Hornbeck Offshore Services Inc. announced yesterday that it had received notice from the New York Stock Exchange (NYSE) that the company is not in compliance with the NYSE continued listing standard.
The standard, set forth in Rule 802.01C of the NYSE Listed Company Manual, requires the average closing price of the company’s common stock to be at least $1 per share over a period of 30 consecutive trading days.
In accordance with applicable NYSE procedures, the Covington, La-based offshore service...