SOLAI (SLAI) said Friday it has been notified by the New York Stock Exchange that it is not in compliance with continued listing standards because as of Jan. 28 the average closing price of its American depositary shares was less than $1 per ADS over a consecutive 30 trading-day period.
The company said it has notified the NYSE of its plans to regain compliance with the minimum price rule.
SOLAI said it has six months after receipt of the notice to regain compliance.
SOLAI said the notice has no immediate effect on the listing of its ADSs.
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