Borr Drilling Limited Regains Compliance with NYSE Continued Listing Standard

Rhea-AI Summary

Borr Drilling Limited (NYSE: BORR) has regained compliance with the NYSE continued listing standards after the average stock price exceeded $1.00 per share for the 30-day period ending February 25, 2021. This follows a previous notice from NYSE regarding non-compliance due to the stock price falling below the required threshold. The confirmation of compliance is crucial for maintaining Borr's listing status on the NYSE, providing reassurance to investors after a period of uncertainty.

Positive

• Regained compliance with NYSE continued listing standards.
• Average stock price exceeded $1.00, enhancing investor confidence.

Negative

• None.

OSLO, Norway, Feb. 25, 2021 /PRNewswire/ -- Borr Drilling Limited (the "Company") (NYSE and OSE: BORR), refers to its announcement on September 7, 2020 regarding the written notice received from the New York Stock Exchange (the "NYSE") that the Company was not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE (the "Continued Listing Standard") because the average closing price of its common shares had fallen below $1.00 per share over a period of 30 consecutive trading days.

The Company has today received a letter from the NYSE, confirming that the Company's average stock price for the 30 trading day period ended February 25, 2021 was above the NYSE's minimum requirement of $1.00. Accordingly, the Company has regained compliance with the Continued Listing Standard.

Hamilton, Bermuda, February 25, 2021

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act

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SOURCE Borr Drilling Limited

FAQ

What is the current status of Borr Drilling's stock listing?

Borr Drilling has regained compliance with NYSE continued listing standards as of February 25, 2021.

When did Borr Drilling regain compliance with NYSE standards?

Borr Drilling regained compliance on February 25, 2021.

What was the average stock price for Borr Drilling required by NYSE?

The NYSE required an average stock price of above $1.00 per share.

What happened to Borr Drilling's stock price before regaining compliance?

Previously, Borr Drilling's stock price had fallen below the $1.00 threshold, leading to a non-compliance notice.