Pacific Ethanol wins reprieve on delisting

12/06/2012 12:00 AM

12/06/2012 8:33 AM

Sacramento's Pacific Ethanol Inc. said it has received a letter from the Nasdaq stock market granting the company a 180-day extension to avoid delisting.

Nasdaq sent PEI a delisting warning notice in early June, because the company was not in compliance with the rule requiring listed securities to maintain a minimum closing bid price of at least $1 per share.

That was the second delisting warning in a year for PEI, and the third since September 2009.

Under the June notice, Pacific Ethanol had until Monday to regain compliance; Nasdaq requires a minimum closing of $1 per share for 10 consecutive trading days. The new deadline is June 3, 2013.

PEI closed at 32 cents a share in after-hours trading on Wednesday.


Join the Discussion

The Sacramento Bee is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service