FTE Networks receives reprimand letter from NYSE regulation
FTE Networks, Inc. received a public reprimand letter dated March 25, 2019 from the NYSE Regulation Staff of the New York Stock Exchange based on its noncompliance with sections 301 and 713 of the NYSE American LLC Company Guide. Specifically, the Letter states that the company failed to file an application to obtain Exchange approval for the issuance of additional shares of the company's common stock as required under Section 301 of the Company Guide and failed to obtain shareholder approval of an issuance that exceeded 20% of the company's common stock outstanding, as required under Section 713 of the Company Guide. The shares at issue are described in the company's Form 8-K/A filed on March 22, 2019. The company is working with the Exchange on remediation plans.