GrafTech Regains Compliance with NYSE Continued Listing Standards
04 Novembro 2024 - 10:30AM
Business Wire
GrafTech International Ltd. (NYSE: EAF) (“GrafTech”, the
“Company”, “we” or “our”) announced today that it received a letter
from the New York Stock Exchange (the “NYSE”) notifying GrafTech
that it has regained compliance with the NYSE’s continued listing
standards criteria of a minimum share price as set forth in Section
802.01C of the NYSE Listed Company Manual (“Section 802.01C”).
As previously announced, on August 7, 2024, the NYSE notified
GrafTech that it was not in compliance with the NYSE’s continued
listing standards because the average closing price of the
Company’s common stock per the notice was less than $1.00 per share
over the consecutive 30 trading-day period ended August 5,
2024.
On November 1, 2024, the Company received confirmation from the
NYSE that, as of October 31, 2024, the Company’s common stock had a
closing share price of at least $1.00 and the Company had
maintained an average closing share price of at least $1.00 over
the 30 trading-day period ending on that date. Accordingly, the
Company’s shares are no longer considered to be below the minimum
share price requirement of Section 802.01C and, as a result, the
Company has regained compliance with the NYSE continued listing
standards and will continue to be traded on the NYSE.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of
high-quality graphite electrode products essential to the
production of electric arc furnace steel and other ferrous and
non-ferrous metals. The Company has a competitive portfolio of
low-cost, ultra-high power graphite electrode manufacturing
facilities, with some of the highest capacity facilities in the
world. We are the only large-scale graphite electrode producer that
is substantially vertically integrated into petroleum needle coke,
our key raw material for graphite electrode manufacturing. This
unique position provides us with competitive advantages in product
quality and cost.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements reflect our current views with respect to, among other
things, financial projections, plans and objectives of management
for future operations, and future economic performance. Examples of
forward-looking statements include, among others, statements we
make regarding future estimated volume, pricing and revenue,
anticipated levels of capital expenditures and cost of goods sold,
anticipated reduction in our costs resulting from our cost
rationalization initiatives and one-time costs of implementation
and guidance relating to adjusted EBITDA and free cash flow. You
can identify these forward-looking statements by the use of
forward-looking words such as “will,” “may,” “plan,” “estimate,”
“project,” “believe,” “anticipate,” “expect,” “foresee,” “intend,”
“should,” “would,” “could,” “target,” “goal,” “continue to,”
“positioned to,” “are confident,” or the negative versions of those
words or other comparable words. Any forward-looking statements
contained in this press release are based upon our historical
performance and on our current plans, estimates and expectations
considering information currently available to us. The inclusion of
this forward-looking information should not be regarded as a
representation by us that the future plans, estimates, or
expectations contemplated by us will be achieved. Our expectations
and targets are not predictions of actual performance and
historically our performance has deviated, often significantly,
from our expectations and targets. These forward-looking statements
are subject to various risks and uncertainties and assumptions
relating to our operations, financial results, financial condition,
business, prospects, growth strategy and liquidity. Accordingly,
there are or will be important factors that could cause our actual
results to differ materially from those indicated in these
statements. We believe that these factors include, but are not
limited to: risks and uncertainties associated with our ability to
access the capital and credit markets could adversely affect our
results of operations, cash flows and financial condition; and our
ability to continue to meet NYSE continued listing standards. These
factors should not be construed as exhaustive and should be read in
conjunction with the Risk Factors and other cautionary statements
that are included in our most recent Annual Report on Form 10-K and
other filings with the U.S. Securities and Exchange Commission. The
forward-looking statements made in this press release relate only
to events as of the date on which the statements are made. Except
as required by law, we do not undertake any obligation to publicly
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20241101541150/en/
Michael Dillon 216-676-2000 investor.relations@graftech.com
GrafTech (NYSE:EAF)
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