- Nuverra Environmental Solutions (NES) says its shares have been delisted by the NYSE, and will be available for trading on the OTC Market beginning tomorrow under the ticker NESC.
- NEs says the delisting occurred as shares fell below the NYSE's continued listing standard requiring listed companies to maintain an average global market cap of at least $15M over a consecutive 30-day trading period.
- Before today's open, shares were downgraded to Hold from Buy at Stifel, which said NES likely would restructure its balance sheet and not wipe out the common equity to do so.