Surf Air Mobility receives NYSE minimum-bid-price deficiency notice
Surf Air Mobility received notice from the New York Stock Exchange on July 24, 2026 that it failed to comply with Section 802.01C of the NYSE Listed Company Manual because the average closing price of its common stock was less than $1.00 over a consecutive 30 trading-day period. The company has six months from receipt of the notice to regain compliance by achieving a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the prior 30 trading-day period on the last trading day of any calendar month during the cure period. Shareholders approved a reverse stock split at a ratio ranging from 2:1 to 6:1 at the company's annual meeting on July 24, 2026, which the company may use if necessary to cure the deficiency.
- NYSE notice received July 24, 2026 for non-compliance with Section 802.01C minimum bid price requirement
- average closing price of common stock was less than $1.00 over a consecutive 30 trading-day period
- six-month cure period following receipt of notice
- company must notify NYSE within 10 business days of intent to regain compliance
- shareholders approved reverse stock split at ratio ranging from 2:1 to 6:1 on July 24, 2026
- compliance can be achieved by closing share price of at least $1.00 and average closing share price of at least $1.00 over 30 trading days on last trading day of any calendar month during cure period
- notice has no immediate effect on listing of common stock
Surf Air Mobility has a defined six-month window to restore its stock price above $1.00 or face delisting; shareholder approval of the reverse stock split gives management a tool to address the deficiency if the stock price does not recover organically.
Derived from 8-K filed 2026-07-24. Not investment advice. Figures are extracted from the filing; prose is AI-assisted. View the source filing on SEC.gov →