SatixFy Communications <\/b>is at risk of being delisted from the New York Stock Exchange (NYSE) because its market capitalization fell below $50 million. <\/p>\n
SatixFy is a satellite technology company headquartered in Rehovot, Israel with offices in the U.K., U.S., and Bulgaria. The company develops satellite payloads, user terminals and modems, and also develops its own chipsets. <\/p>\n
The company said in a Dec. 1 announcement that it received notice from the NYSE that it is not in compliance with listing standards. NYSE generally requires companies to have a minimum stockholder equity of at least $2 million in two of the three most recent fiscal years. <\/p>\n
SatixFy does not meet this, and uses alternate criteria to list on the NYSE. One of those criteria is that the company maintains a market capitalization of at least $50 million or total assets and revenue of $50 million in two of its last three fiscal years. Market capitalization refers to the total dollar market value of a company\u2019s outstanding shares.<\/p>\n
SatixFy said its market capitalization recently fell below $50 million. The company has 30 days to submit a plan to regain compliance. Its shares will continue to trade while it works to regain compliance. <\/p>\n
SatixFy said its plan to regain compliance is \u201cbased in-part on expected upcoming business progress and technological development, including potential positive announcements it expects to make in the near-term of new customers and new orders that it believes should evidence that its valuation should be higher.\u201d <\/p>\n
Last week, SatixFy reported its nine-month financial results for 2023, increasing total revenue in the first nine months by 31% over the same time last year, to $8.9 million. The company also recently sold its digital payload division to MDA for $40 million and additional $20 million in advanced payments for future orders of space grade chips. <\/p>\n
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SatixFy Communications is at risk of being delisted from the New York Stock Exchange (NYSE) because its market capitalization fell below $50 million. SatixFy is a satellite technology company headquartered in Rehovot, Israel with offices in the U.K., U.S., and Bulgaria. The company develops satellite payloads, user terminals and modems, and also develops its own […]<\/p>\n","protected":false},"author":1,"featured_media":48874,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-52260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/52260"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=52260"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/52260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/48874"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=52260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=52260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=52260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}