ION receives continued listing standards notice from the New York Stock Exchange
The Company intends to submit a plan that demonstrates its ability to bring the Company into conformity with the continued listing standards within 18 months. During the 18-month period, the Company's shares will continue to be listed and traded on the NYSE, subject to its continued compliance with the plan and other NYSE continued listing standards.
"As our first quarter performance will validate, our team was making good process executing the refined strategies and cost restructuring we rolled out in January," said
"We are acting quickly to protect cash, continue servicing customers, apply new approaches with digital engagement and reallocate resources to maximize near-term financial impact. We are developing our plan and will work cooperatively with the NYSE in an effort to restore compliance. It is important to note that the COVID-19 pandemic was the major driver in the erosion of our market cap. While we are certainly not relying on the amelioration of the pandemic to fix the problem, we do believe that the normalization of markets should cause our market cap to rebound."
ION develops and leverages innovative technologies, creating value through data capture, analysis and optimization to enhance critical decision-making, enabling superior returns. For more information, visit iongeo.com.
ION (Investor relations)
Executive Vice President and Chief Financial Officer
ION (Media relations)
Vice President, Communications
The information herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include information and other statements that are not of historical fact. Actual results may vary materially from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include the risks associated with the timing and development of