Item 3.01 - Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard; Transfer of Listing
On April 21, 2023, Unique Fabricating, Inc. (the "Company") received a notice
letter (the "Notice") from the NYSE Regulation Department (the "Staff")
notifying the Company that it was not in compliance with the continued listing
standard set forth in Part 10 of the New York Stock Exchange American ("NYSE
American" or the "Exchange") Company Guide (the "Company Guide") because the
Company's common stock has a 30 trading-day average closing price of less than
$0.20 per share of common stock. The Company is now subject to the procedures
and requirements set forth in Section 1009 of the Company Guide.
The Company plans to notify the Exchange that it intends to submit a plan to
cure this deficiency and return to compliance with the NYSE American continued
listing requirements. In order to avoid delisting under Section 1009(c), the
Company has 30 days from the receipt of the Notice to submit a plan advising the
Exchange of definitive actions the Company has taken, or proposes to take, that
would bring it into compliance with the continued listing standards on or before
October 21, 2023 (the "Cure Period"). If the Exchange accepts the plan, the
Company's common stock will continue to be listed and traded on the NYSE
American during the Cure Period, subject to the Company's compliance with other
continued listing standards, and the Company will be subject to quarterly
monitoring by the Staff for compliance with the plan. There is no assurance that
the Company will be able to timely develop or submit a plan or that the Company
will be able to implement any plan. The Exchange can take accelerated delisting
action at anytime if the Company's common stock trades at levels viewed to be
abnormally low.
The Exchange also informed the Company that the Company's common stock at this
time will continue to trade under the symbol "UFAB," but will have an added
designation of ".BC" to indicate that the Company is not currently in compliance
with NYSE American continued listing standards.
Item 9.01. Exhibits.
(d) Exhibits. The following exhibits are filed herewith:
© Edgar Online, source Glimpses