The company has six-month cure period. If the сompany is unable to regain compliance during the cure period, the NYSE may initiate procedures to suspend and delist the сommon ыtock.

Wood pellets

Enviva faces potential delisting warning from NYSE over share price concerns

Enviva faces potential delisting warning from NYSE over share price concerns

Image: Port of Chesapeake, VA / Enviva

Enviva Inc., the world's largest producer of wood pellets, has been served with a notice from the New York Stock Exchange (NYSE) regarding non-compliance with the exchange's minimum share price requirement. The notification, received on January 23, 2024, highlights that Enviva's average closing share price has fallen below the NYSE's mandated threshold of $1.00 over a consecutive 30-trading-day period.

In response to the notice, Enviva outlined a potential path to regain compliance within a six-month cure period. To meet the NYSE's requirements, Enviva must achieve a closing share price of at least $1.00, alongside an average closing share price of $1.00 over a 30-trading-day period by the end of any calendar month within this timeframe. While the notice does not immediately impact the trading of Enviva's common stock, it introduces a ".BC" designation to the company's stock symbol, indicating its current non-compliance status with NYSE listing standards. 

Enviva Inc.'s share price has experienced significant volatility, with a notable decline over the past year. As of January 29, 2024, the stock was trading at approximately $0.60, marking a slight increase from its previous close​​​​. This is a sharp decrease from its 52-week high of $48.68. 

The company's shares began to fall after November 2023, when Enviva warned it may not be able to continue operating after losses surged. Enviva reported a loss of $85.2 million for the third quarter and began a comprehensive review of its debt structure.