ION Receives Non-compliance Notice from NYSE Regarding 10-K Filing Delinquency
HOUSTON, April 22, 2022 (GLOBE NEWSWIRE) — ION Geophysical Corporation (NYSE:IO) today announced that on April 18, 2022 it received a letter from the New York Stock Exchange (the “NYSE”) notifying the Company that it is not in compliance with the NYSE’s continued listing standards given the Company failed to timely file its Form 10-K for the year ended December 31, 2021. The filing delinquency is due to the Company’s filing for voluntary Chapter 11 relief on April 12, 2022.
The NYSE will monitor the status of the Company’s late filing and related public disclosures for up to a six-month period from its due date. If the Company fails to file its delayed filing and any subsequent delayed filings within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company’s securities to trade for up to an additional six months depending on specific circumstances, as outlined in Section 802.01E of the Listed Company Manual. If the NYSE determines that an additional six-month trading period is not appropriate, suspension and delisting procedures will commence.
Receipt of the letter does not have any immediate effect on the listing of the Company’s shares on …