USEC OFFICIALLY MEETS STOCK EXCHANGE SHARE PRICE REQUIREMENTS

USEC this week officially fell back in compliance with the New York Stock Exchange’s requirements for minimum share price after its stock traded above $1 for 30 trading days in a row. The company first received a notice from the NYSE in May 2012 after its share price fell below the $1 limit, warning that it could be dropped from the listings if its stock did not rise. In late June USEC shareholders approved a 25-to-1 reverse stock split, which when instituted on July 1 combined shares of USEC stock and raised the share price from about $0.30 to around $7. USEC’s share price has since soared, and stood at about $18.10 yesterday. USEC received official notification from the NYSE on Tuesday that it had regained compliance.

The company still needs to meet the Exchange’s requirements for a minimum market capitalization of $50 million. It received notice from the NYSE earlier this year that it did not meet that standard, and while its market capitalization has recently risen above that mark, it must remain in compliance for at least two consecutive quarters. Earlier this month the NYSE accepted USEC’s 18-month plan to regain market capitalization compliance.