NYSE American tweaks company guide rules, SEC nods quickly
Published Date: 8/18/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 3 costs, 1 mixed.
Immediate delisting if stock < $0.25
If you own or invest in securities listed on NYSE American and you have investments, the Exchange will immediately suspend trading and begin delisting proceedings if a security's closing price is less than $0.25 on any trading day. Companies subject to this price criterion will not be eligible to use the Company Guide's Section 1009 procedures to seek continued listing under this price rule. This change takes effect on July 1, 2027.
Issuers barred from 1009 cure for $0.25 rule
Under the amended Company Guide, an issuer whose security is subject to delisting because the closing price is under $0.25 will not be eligible to follow the Section 1009 procedures to remain listed with respect to that price criterion. Issuers still retain the right to appeal delisting decisions under Part 12. This rule is effective July 1, 2027.
Suspension even above $0.25 for steep declines
The Exchange may suspend trading or delist a security even if it has not fallen below $0.25 when, in the Exchange's opinion, the trading price has experienced a precipitous decline and is at an abnormally low level unlikely to recover. This discretionary authority is part of the amended rules and is effective July 1, 2027.
Reverse-split restrictions remain in place
The Exchange will keep its existing prohibitions on one or more reverse stock splits with a cumulative ratio of 200 shares to one in a two-year period and on reverse splits that would cause a company to fall below any continued listing requirement. These rules remain effective alongside the new price-based delisting rules.
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