Business Context and Reporting Period
Company: ProPetro Holding Corp. (NYSE: PUMP)
Filing Type: Form 8-K (Current Report)
Date of Report: August 15, 2019
Event: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report addresses a regulatory compliance issue rather than financial performance results.
Material Changes
The Company received a notice from the New York Stock Exchange (NYSE) on August 15, 2019, stating it is not in compliance with continued listing requirements under Section 802.01E of the NYSE Listed Company Manual. This non-compliance is due to the failure to timely file the Quarterly Report on Form 10-Q for the three months ended June 30, 2019.
Outlook, Risks, and Contingencies
- Compliance Deadline: The Company has six months from August 15, 2019, to file the delinquent Form 10-Q to regain compliance.
- Extension Possibility: If the deadline is missed, the NYSE may, at its discretion, grant an extension of up to six additional months depending on circumstances.
- Delisting Risk: The NYSE reserves the right to commence delisting proceedings at any time if it deems the circumstances warrant, even before the compliance deadline expires.
Investor Verification Checklist
- Verify the current status of the Form 10-Q for the period ended June 30, 2019.
- Monitor the Company's stock listing status on the NYSE for any further delisting notices.
- Review subsequent filings to confirm if the six-month compliance window was met or if an extension was granted.