Those standards include: a $1 share price, as well as a $1 share price over a consecutive 30-trading-day period; an average market capitalization of not less than $50 million over a 30-trading-day period; and stockholdersâ equity of not less than $50 million.
Penton will continue to be listed on the NYSE but will be subject to quarterly monitoring by the exchange.
If the company fails to achieve the planâs goals, it will be subject to NYSE trading suspension and delisting.
Penton, which posted a net loss of $282.9 million in the third quarter, closed Thursday at 90 cents per share, giving the company a market capitalization of $29.25 million.
The companyâs share price last closed at $1 or more on Nov. 29, when it closed at $1.05.