NU Online News Service, Aug. 8, 11:57 a.m. – The New York Stock Exchange has notified PlanVista Corp., Tampa, Fla., that it might drop PlanVista’s stock listing because the price of PlanVista shares has fallen too low.
The exchange has given PlanVista, a managed-care company, until Aug. 14 to submit a plan for bringing itself back into compliance.
PlanVista says it is pursuing two strategies.
The company is trying to arrange a public stock offering that would help it qualify to sell its stock through the NASDAQ National Market System.
The company is also preparing a compliance plan for the New York Stock Exchange.
If PlanVista has not completed the public offering by Aug. 14, it will submit a compliance plan to the New York Stock Exchange.
PlanVista says its stock might end up trading on the NASDAQ OTC Bulletin Board for at least a few days if the New York Stock Exchange drops the listing before the company has completed the public offering.
“Until and unless the offering is completed, the company does not expect to be able to meet the initial listing requirements of the NASDAQ National Market System,” PlanVista says.