Given the current market volatility and depressed stock prices, Goodwin’s Public Company Advisory Practice has prepared the following presentation on securities law issues in volatile markets. The topics covered include the following: (1) Reverse Stock Splits; (2) Going Dark; (3) Loss of WKSI Status; (4) Exchange Act Filer Status; (5)…
Given the volatility in the markets, numerous public companies are considering repurchasing shares as a means of improving the market price of a company’s stock. Historically, a company’s stock price increases from 1-3% when repurchases are announced and generally this price increase does not dissipate over time. See, for example,…
If a company’s stock’s minimum bid price remains below $1 per share for 30 consecutive trading days, Nasdaq will promptly send the company a deficiency notice. Nasdaq rule 5810(b) requires a company that receives a deficiency notification to make a public announcement that discloses receipt of the notification, identifies the…
There is currently a draft bill floating around Congress known as JOBS Act 4.0. We have prepared a summary of the topics that would be most relevant to companies and other capital markets participants from the draft legislation.
Given the volatility in the capital markets and potentially due to other changes, a company may face the prospect of losing its status as a well-known seasoned issuer (WKSI) at the time of the filing of its 10-K. One of the requirements for WKSI status that many companies attempt to…