During a consecutive 30-day trading period - under NYSE rules - the average closing price of Dana's common stock must be a minimum of $1 per share and its market capitalization must equal or exceed $100 million.
Dana plans to notify the NYSE that it intends to resolve these matters. The company has six months to return its average share price above the required threshold, and 45 days to submit a plan demonstrating its ability to comply with the market capitalization standard. Under NYSE rules, Dana's common stock will continue to be listed on the exchange during this period, subject to ongoing monitoring and the company's compliance with other continued listing requirements.
Dana's operations, Securities and Exchange Commission reporting requirements, credit agreements, and other debt obligations are not otherwise affected by this NYSE notification.