NYSE American Non-compliance Notice Received
June 02 2021 - 8:00PM
AeroCentury Corp. (NYSE American: ACY) (the "Company"), an
independent aircraft leasing company, released information
regarding a notice received from the NYSE American stock exchange
regarding continued listing requirements.
On May 28, 2021, after a recent review of the
financial statements of AeroCentury Corp. (the “Company”), NYSE
American LLC (the “NYSE American”) sent written notice to the
Company of the Company’s non-compliance with NYSE American’s
stockholders’ equity continued listing standards as set forth in
Section 1003(a)(ii) of the NYSE American Company Guide (the
“Company Guide”) since the Company had reported a stockholders’
deficit of ($23) million as of March 31, 2021 and losses from
continuing operations and/or net losses in three of its four most
recent fiscal years ended December 31, 2020. As previously
reported, the Company is also not in compliance with Section
1003(a)(i) of the Company Guide. As also previously reported, the
Company has been subject to the procedures and requirements of
Section 1009 of the Company Guide, which had required the Company
to submit to NYSE Regulation, Inc. (“NYSE Regulation”) a plan to
regain compliance (the “Plan”), and in November 2020, NYSE
Regulation notified the Company of its acceptance of the Plan. The
Plan remains in effect and which has a plan period that extends
through March 11, 2022.
About AeroCentury: AeroCentury
is an independent global aircraft operating lessor and finance
company specializing in leasing regional jet and turboprop aircraft
and related engines. The Company's aircraft are leased to regional
airlines and commercial users worldwide.
Hal LyonsChief Financial Officer(650)
340-1888
Aerocentury (AMEX:ACY)
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