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BioAmber (TSX:BIOA) has announced that the Toronto Stock Exchange (TSX) has notified the company that it is reviewing the company’s eligibility for continued listing on the TSX. As quoted in the press release: This review results from the Company not being in a position to obtain the approval of the TSX in connection with its …
BioAmber (TSX:BIOA) has announced that the Toronto Stock Exchange (TSX) has notified the company that it is reviewing the company’s eligibility for continued listing on the TSX.
As quoted in the press release:
This review results from the Company not being in a position to obtain the approval of the TSX in connection with its registered direct offering announced on February 9, 2018.
BioAmber was notified of the listing review on February 12, 2018. A meeting with the continued listing committee of the TSX is scheduled to be held on February 15, 2018 at which the Company may make submissions. Since suspension of trading and delisting of the Company’s shares from the TSX is a possible outcome, the Company may seek alternative Canadian marketplaces on which to be listed, including the TSX Venture Exchange.
The TSX notification does not affect the Company’s business operations or its Securities and Exchange Commission (“SEC”) or applicable Canadian reporting requirements, and does not constitute an event of default under any of the Company’s debt obligations.
