NYSE Regulation has determined to start delisting proceedings for warrants issued by Eve Holding, Inc., citing “abnormally low selling price” levels; trading in the company’s common stock will continue on the NYSE.
In an Oct. 22 announcement, NYSE Regulation said it would suspend trading in the warrants, which trade under ticker EVEXW, immediately. Each EVEXW warrant entitles its holder to acquire one share of Eve common stock. NYSE Regulation cited Section 802.01D of its Listed Company Manual and said the warrants were no longer suitable for listing.
The Securities and Exchange Commission’s filing index lists Eve Holding, Inc. as the filer of an Oct. 26 Form 8-K, with Oct. 21 as the report period. The index marks the filing as Item 3.01, covering a delisting notice or failure to meet a continued-listing standard.
NYSE Regulation said Eve may seek review by a committee of the exchange’s board. The exchange plans to ask the SEC to remove the warrants from its listing after required procedures and any appeal by Eve are complete. The announcement gave no date for that application.
