EV Energy announces extension of grace period to meet NASDAQ requirement
EV Energy Partners announced that it received a notice from the NASDAQ Stock Market granting an additional 180-day grace period to regain compliance with NASDAQ's minimum bid price requirement. As previously disclosed, EVEP was notified by NASDAQ on July 17, 2017, that it no longer satisfied the minimum bid price requirement for continued listing of $1.00 per unit. In anticipation of not meeting the minimum bid price requirement by January 15, 2018, the end of the initial 180-day grace period, EVEP applied for and was approved to transfer the listing of its units to the NASDAQ Capital Market. In order to regain compliance, the minimum bid price per unit of EVEP's common units must be at least $1.00 for at least ten consecutive business days during the additional 180-day grace period, which will end on July 16, 2018. If EVEP fails to regain compliance during this grace period, EVEP's common units will be subject to delisting by NASDAQ. EVEP has provided NASDAQ written assurance that it intends to implement a reverse unit split if the closing bid price of its units is not at least $1.00 for a minimum of ten consecutive business days during the extension period.