Oklo Inc., the manufacturer of next-generation fission battery technology, has recently received a non-compliance notice from the New York Stock Exchange (NYSE).
The notice flags that Oklo Inc. has fallen below the NYSE’s listing standards, a common reason for which usually includes a minimum average closing price of at least $1 per share over a consecutive 30 trading-day period. If left unaddressed, such non-compliance could potentially lead to the company’s delisting from the stock exchange.
In response to the notice, Oklo Inc. intends to submit a business plan to the NYSE within the next 45 days, outlining how it plans to regain compliance within the next 18 months. This is the standard response procedure for NYSE-listed companies that receive a non-compliance notice.
Furthermore, Oklo Inc. clarified that the company’s business operations, securities, and reporting requirements will be able to continue as usual, despite the current non-compliance status. The non-compliance notice does not impact the company’s listing on the NYSE at this stage, allowing Oklo Inc. the opportunity to remedy the situation within the provided timeline.
Oklo Inc. has not shared the specifics of its forthcoming compliance plan. However, it would reportedly be designed to achieve and sustain the necessary compliance standards as dictated by the NYSE.
In the meantime, shares of Oklo Inc. continue to be traded on the NYSE. The company has issued a reassurance that this non-compliance notice does not adversely affect the company’s business operations nor does it violate its credit agreements or debt covenants.
As per standard NYSE procedure, the exchange will closely monitor the company’s progress throughout the 18-month plan. If Oklo Inc. does not successfully regain compliance within the allotted timeframe, it could face delisting from the NYSE.
Last modified: February 7, 2025
