Listing Requirements of NYSE-MKT

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– *updated August 30, 2015 –

nyse-mktThe New York Stock Exchange acquired the American Stock Exchange in 2008.  It is now known as NYSE-MKT. The NYSE-MKT is an attractive exchange for solid micro and small-cap companies.  NYSE-MKT has four different listing and public shareholder standards with a number of differing combinations within.  As a result, the NYSE-MKT listing requirements offers flexibility to companies operating in different market sectors.

We are always open to talk to corporate executives who are considering listing on the NYSE-MKT.  The listing requirements can sometimes be confusing and waivers can be applied for in certain circumstances when a company desiring to list is strong in all listing categories but for one.  Do feel free to book an appointment with us if you need assistance to determine if your company qualifies to list on the NYSE-MKT or other exchange.

NYSE-MKT Listing Requirements

Requirements Standard 1 Standard 2 Standard 3 Standard 4
Shareholders’ equity $4 million $4 million $4 million N/A
Pre-tax income required in last fiscal year or two of three most recent fiscal years. $750,000 N/A N/A N/A
Market capitalization N/A N/A $50 million $75 million OR At least $75 million in total assets and $75 million in revenues
Distribution 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months
Price $3 $3 $2 $3
Market value of  public float $3 million $15 million $15 million $20 million

The NYSE-MKT listing board also conducts a subjective review of all listing candidates looking at the:

  • nature of a company’s business;
  • market for its products;
  • reputation of its management;
  • historical record and pattern of growth;
  • financial integrity;
  • demonstrated earnings power; and
  • future outlook

Company’s board of directors must agree to abide by the corporate governance requirements of NYSE-MKT.

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    Alixe Cormick is the founder of Venture Law Corporation in Vancouver, British Columbia and a member of Commercialization Advisory Board of the Life Science Institute at the University of British Columbia, the Advisory Board of the National Crowdfunding Association and two private tech companies. She is also a member of the Pacific Northwest Keiretsu Forum, an association of accredited private equity angel investors, venture capitalists and corporate/institutional investors, and Vantech Angel Technology Network, a Vancouver angel group. You can reach Alixe by phone at 604-659-9188, by email at acormick@venturelawcorp.com, on twitter @AlixeCormick or on Google+.

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