NEW YORK--(BUSINESS WIRE)--NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Impac Mortgage Holdings, Inc. (the “Company”) — ticker symbol IMH —from the Exchange. Trading in the Company’s common stock on the NYSE American will be suspended immediately.
The Company is currently below compliance with the $2 million, $4 million and $6 million stockholders’ equity requirements of Section 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide. NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1009 of the NYSE American Company Guide, since the Company informed the Exchange that it cannot demonstrate an ability to return to compliance within 18 months of notice from the Exchange.
The Company has a right to a review of staff’s determination to delist the common stock by a Committee of the Board of Directors of the Exchange. The NYSE American will apply to the Securities and Exchange Commission to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.