On November 9, 2011, the SEC approved stricter listing requirements for reverse merger companies seeking to be listed on NYSE Amex, NYSE, or NASDAQ. Such a company must trade on another exchange or on the over-the-counter market for one year before listing. The company must also maintain a minimum share price for a specified duration and for 30 of the 60 trading days before the listing application. Certain exemptions apply.
Source: SEC Release 2011-235
This alert applies to the Series 79, Series 24, Series 62, and Series 7.