Volato Group announced that it received a warning letter from the NYSE, as provided under Section 1009(a) of the NYSE company guide, describing its failure to comply with Sections 301 and 713 of the guide.
Per the announcement:
Section 301 of the company guide prohibits a listed company from issuing or authorizing its transfer agent or registrar to issue or register additional securities of a listed class until it has filed an application for the listing of such additional securities and received notification from the NYSE American that the securities have been approved for listing.
Section 713 of the company guide requires stockholder approval when additional shares are to be issued in connection with a transaction involving the sale, issuance, or potential issuance of common stock equal to 20% or more of outstanding stock for less than the greater of the stock’s book or market value.
Per the press release, Volato…
