Listing Requirements of NYSE American

– *updated September 25, 2023 –

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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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Disclaimer

The articles on this website are not intended to create, and do not create, an attorney-client relationship. You should not act or rely on information on this website without first seeking the advice of a lawyer. This material is intended for general information purposes only and does not constitute legal advice. You are advised to contact legal counsel prior to undertaking any securities transaction. Laws change and there are subtle nuances to the rules that may apply in your particular circumstance.