Hornbeck Offshore has run afoul of the New York Stock Exchange's minimum trading price rules.
The Louisiana-based offshore vessel owner disclosed on Thursday that the exchange notified it that its average closing price over the last month has fallen below $1. It has six months to fix the deficiency or face delisting.
"The company intends to actively monitor the closing share price of its common stock and will explore all available options, including, if necessary, a reverse stock split of the company's common shares, subject to stockholder approval, to regain compliance," Hornbeck...
