So what happens after this?
06-20-2008 | 12:04 PM
#1
Thread Starter
Gets Weekends Off
Joined: Jun 2006
Posts: 159
Likes: 0
So what happens after this?
Mesa receives Nasdaq delisting noticeJune 20, 2008 2:33 PM ET advertisement
Article tools E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleMesa Air Group Inc (MESA) Stock Quote, Chart, News, Add to Watchlist
All bizjournals.com newsMesa Air Group announced Friday it has received a Nasdaq determination letter indicating the company doesn't comply with the minimum bid price requirement for continued listing.
Mesa (Nasdaq: MESA) said it has been given 180 calendar days, or until Dec. 15, to regain compliance. Mesa will regain compliance if the bid price for its common stock closes at $1 per share or more for a minimum of 10 consecutive business days.
If Mesa doesn't regain compliance, Nasdaq will notify the company that its securities will be delisted. Mesa said it intends to request a hearing if it doesn't regain compliance.
Mesa, parent company of Hawaii interisland carrier go! airlines, received the notification because its shares closed below the minimum $1 for the last 30 business days.
Shares of Mesa stock were down 5 percent to 56 cents in afternoon trading.
If its securities are delisted...what does that mean for mesa?
Article tools E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleMesa Air Group Inc (MESA) Stock Quote, Chart, News, Add to Watchlist
All bizjournals.com newsMesa Air Group announced Friday it has received a Nasdaq determination letter indicating the company doesn't comply with the minimum bid price requirement for continued listing.
Mesa (Nasdaq: MESA) said it has been given 180 calendar days, or until Dec. 15, to regain compliance. Mesa will regain compliance if the bid price for its common stock closes at $1 per share or more for a minimum of 10 consecutive business days.
If Mesa doesn't regain compliance, Nasdaq will notify the company that its securities will be delisted. Mesa said it intends to request a hearing if it doesn't regain compliance.
Mesa, parent company of Hawaii interisland carrier go! airlines, received the notification because its shares closed below the minimum $1 for the last 30 business days.
Shares of Mesa stock were down 5 percent to 56 cents in afternoon trading.
If its securities are delisted...what does that mean for mesa?
06-20-2008 | 12:14 PM
#2
No Weekends Off
Joined: Sep 2007
Posts: 362
Likes: 0
From: CRJ FO
By itself, not much. Mesa shares will continue to be traded, but on smaller over-the-counter markets, what are called "pink sheets", instead of the NASDAQ.
But what led to the delisting is what matters. It shows that investors are losing confidence in the airline because of its financial mess -- loss of Delta flying, Hawaiian and Aloha lawsuits, you name it.
But what led to the delisting is what matters. It shows that investors are losing confidence in the airline because of its financial mess -- loss of Delta flying, Hawaiian and Aloha lawsuits, you name it.
06-20-2008 | 04:50 PM
#4
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,841
Likes: 653
From: Engines Turn or People Swim
Delisting would make it harder for MAG to raise cash by issuing stock...it would reduce the pool of readily available stock buyers.
This is just one more step down the road to bankruptcy.
This is just one more step down the road to bankruptcy.
06-20-2008 | 05:15 PM
#5
Banned
Joined: Jun 2008
Posts: 8,350
Likes: 0
