Ultra Petroleum Corp. Announces Commencement of Nasdaq Delisting Proceedings; Common Stock Expected to Begin Trading on the O...
31 Julho 2019 - 7:00AM
Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (NASDAQ:
UPL) today announced that The Nasdaq Stock Market (“Nasdaq”) has
initiated proceedings to delist the Company’s common stock,
effective August 8, 2019, as a result of the Company not regaining
compliance with the $1.00 per share minimum bid price requirement
for continued inclusion on Nasdaq based on Listing Rule 5550(a)(2).
The Company expects that its common stock will begin to trade on
OTCQX beginning August 8, 2019 and expects to trade under the
symbol “UPLC.”
After consideration of multiple factors, the Company’s board of
directors determined that attempting to regain compliance with
Nasdaq’s continued listing requirement be effecting a reverse stock
split would not be in the best interest of the Company at this
time. The transition to the OTC Markets will not affect the
Company’s business operations. The Nasdaq will apply to the
Securities and Exchange Commission (“SEC”) to delist the Company’s
common stock upon completion of applicable procedures. The Company
will remain subject to the public reporting requirements of the SEC
following the transfer.
About Ultra Petroleum
Ultra Petroleum Corp. is an independent energy company engaged
in domestic natural gas and oil exploration, development and
production.
This news release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act, and Section 21E
of the Securities Exchange Act of 1934, as amended. Any statement,
including any opinions, forecasts, projections or other statements,
other than statements of historical fact, are or may be
forward-looking statements. Although the Company believes the
expectations reflected in any forward-looking statements herein are
reasonable, we can give no assurance that such expectations will
prove to have been correct and actual results may differ materially
from those projected or reflected in such statements. In addition,
certain risks and uncertainties inherent in our business as well as
risks and uncertainties related to our operational and financial
results are set forth in our filings with the SEC, particularly in
the section entitled “Risk Factors” included in our Annual Report
on Form 10-K for the most recent fiscal year, our most recent
Quarterly Reports on Form 10-Q, and from time to time in other
filings made by the Company with the SEC. Some of these risks and
uncertainties include, but are not limited to, increased
competition, the timing and extent of changes in prices for oil and
gas, particularly in the areas where we own properties, conduct
operations, and market our production, as well as the timing and
extent of our success in discovering, developing, producing and
estimating oil and gas reserves, our ability to successfully
monetize the properties we are marketing, weather and government
regulation, and the availability of oil field services, personnel
and equipment.
For further information
contact:Investor Relations303-708-9740, ext. 9898
Ultra Petroleum (NASDAQ:UPL)
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