Foresight Energy LP Announces Suspension of Trading and Commencement of NYSE Delisting Procedures Due to Low Stock Price
November 9, 2019 - Foresight Energy LP (“Foresight” or the “Partnership”) (NYSE: FELP) has announced that on November 8, 2019, the Partnership was notified by the New York Stock Exchange (“NYSE”) that the NYSE had determined to immediately suspend trading of the Partnership’s common units and commence delisting proceedings as a result of the NYSE’s determination that the Partnership’s common units were no longer suitable for listing on the NYSE based on “abnormally low” trading price levels, pursuant to Section 802.01D of the NYSE Listed Company Manual.
The NYSE stated that it will apply to the Securities and Exchange Commission to delist the Partnership’s common units upon completion of all applicable procedures. The Partnership does not intend to appeal the delisting determination and, therefore, it is expected that the Partnership’s common units will be delisted.
The Partnership has submitted an application for its common units to trade on the OTCQX marketplace under the symbol “FELP”. The transition to the over-the-counter markets will not affect the Partnership’s business operations. The Partnership will remain subject to the public reporting requirements of the Securities and Exchange Commission following the delisting.