– *updated September 25, 2023 –
The New York Stock Exchange acquired the American Stock Exchange in 2008. It is now known as NYSE American. NYSE American is an attractive exchange for solid micro and small-cap companies. NYSE American has four different listing and public shareholder standards with several differing combinations within. As a result, the NYSE American listing requirements offer flexibility to companies operating in different market sectors.
We are always open to talking to corporate executives who are considering listing on NYSE American. The listing requirements can sometimes be confusing, and waivers can be obtained in certain circumstances when a company desiring to list is strong in all listing categories but one. Please feel free to book an appointment with us if you need help to determine if your company qualifies to list on NYSE American or another exchange.
NYSE American 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 American 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 American.
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Other Articles You May Find of Interest:
- Master Chart of the Listing Requirements of the NYSE, NYSE-MKT, Nasdaq, TSX, TSX Venture Exchange, Cboe Canada and CSE – September 25 25, 2023
- Listing Requirements of the New York Stock Exchange – September 25, 2023
- Listing Requirements of the Toronto Stock Exchange – Industrial, Tech., Research & Dev. Issuers – September 25 22, 2023
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