Rex Energy Once Again Threatened with NASDAQ De-listing

Rex Energy, a driller focused mainly on the Marcellus/Utica (headquartered in State College, PA), has had its share of financial challenges. In the past it has swapped out old IOUs for new IOUs, converted debt (IOUs) into equity (shares of stock), sold off assets in other basins–a whole lotta stuff to keep on drilling (see our Rex Energy stories here). The company’s stock has taken a hit over the past five years. Rex’s stock (REXX) is traded on the Nasdaq Stock Exchange and last December Nasdaq threatened Rex with de-listing the stock (see Rex Energy Stock Threatened with De-Listing by Nasdaq). The company would remain listed if they could meet the minimum requirement of a per share price trading for at least $1/share for 10 consecutive trading days . Nasdaq gave Rex until June 17 of this year to comply, or get banished to the penny stock pink sheets. Rex pulled a rabbit out of the hat and avoided de-listing (see Rex Energy’s Stock Out of Woods, NASDAQ Won’t De-List). However, Rex is back in the woods again. Two weeks ago the company filed a Securities and Exchange Commission Form 8-K alerting investors that Nasdaq has once again told the company they will get de-listed if they can’t turn things around by Jan. 2nd. However, the price per share is well above $1. The problem this time (the violation of listing standards) is that stockholder equity in the company is less than $2.5 million…

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