Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On September 9, 2020, Tellurian Inc. (the "Company") received a notice from the
Listing Qualifications department of the Nasdaq Stock Market ("Nasdaq")
indicating that the bid price of the common stock of the Company for the last 30
consecutive trading days had closed below the minimum $1.00 per share required
for continued listing under Nasdaq Listing Rule 5550(a)(2).
The Nasdaq notification letter has no immediate effect on the listing or trading
of the common stock of the Company on the Nasdaq Capital Market.
The Nasdaq notification letter indicated that, in accordance with Nasdaq Listing
Rule 5810(c)(3)(A), (i) the Company would be provided with 180 calendar days, or
until March 8, 2021 to regain compliance with Nasdaq Listing Rule 5550(a)(2) and
(ii) compliance can be achieved if the closing bid price of the common stock of
the Company is at least $1.00 per share for a minimum of ten consecutive
business days before March 8, 2021. If the Company does not regain compliance
with Nasdaq Listing Rule 5550(a)(2) by March 8, 2021, the Company may be
afforded a second 180 calendar day period, or until September 4, 2021, to regain
compliance. To qualify, the Company would be required to meet the continued
listing requirement for market value of publicly held shares and all other
initial listing standards for the Nasdaq Capital Market, except for the minimum
bid price requirement. In addition, the Company would be required to notify
Nasdaq of its intent to cure the deficiency during the second compliance period.
The Company intends to actively monitor the closing bid price of its common
stock and will consider all available options to resolve the deficiency and
regain compliance with Nasdaq Listing Rule 5550(a)(2).
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