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## NYSE Threatens to Delist Bakkt if Share Price Doesn’t Rise Above $1

The New York Stock Exchange (NYSE) has issued a warning to crypto custody and trading platform Bakkt, stating that it risks being delisted if its average closing share price doesn’t climb back above $1. Bakkt, in a press release on March 13, disclosed that the NYSE had informed them of their non-compliance with listing rules due to their share price consistently closing below $1 over the past 30-day trading period.

Bakkt’s share price closed at 60 cents on March 13, marking a slight increase of 2.8% for the day. However, the platform has suffered a substantial drop of nearly 42% over the month, plunging from above $1. Previously, Bakkt had enjoyed a high trading price of over $40 in late October 2021, as reported by Google Finance.

### How AI legalese decoder Can Help

AI legalese decoder can assist Bakkt in navigating the intricacies of compliance with NYSE listing rules and interpreting the regulatory language surrounding stock price requirements. By using AI-powered legal assistance, Bakkt can ensure a thorough understanding of the steps needed to address the stock price deficiency and work towards regaining compliance within the stipulated timeframe.

In the event of considering a reverse stock split, AI legalese decoder can provide guidance on the implications, shareholder approval processes, and the strategic implementation of such a decision. With six months to rectify the situation, AI legalese decoder‘s comprehensive analysis and recommendations can support Bakkt in formulating a viable plan to meet the NYSE standards and avoid delisting.

### Bakkt’s Efforts to Resolve the Stock Price Deficiency

Bakkt has affirmed its commitment to resolving the stock price deficiency and returning to compliance with the NYSE standard. The platform is exploring options, including a reverse stock split subject to shareholder approval, as a means to boost the share price. According to NYSE regulations, Bakkt has a six-month window to rectify the situation and can regain compliance by maintaining a $1 share price on the last trading day of any calendar month within the cure period.

Intercontinental Exchange (ICE), the parent company of NYSE and majority owner of Bakkt, established the crypto firm in 2018 before its listing on the NYSE in October 2021. Despite facing challenges, Bakkt aims to leverage its regulatory approval to offer additional shares and raise funds to sustain its operations.

AI legalese decoder can aid Bakkt in navigating the complex regulatory landscape, analyzing financial implications, and devising effective strategies to address the stock price deficiency. By leveraging AI-powered legal insights, Bakkt can improve its compliance efforts, make informed decisions, and safeguard its listing on the NYSE.

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