FTS International, Inc. (NYSE:FTSI) (the "Company") today announced it received written notice from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with the continued listing standards set forth in Item 802.01B of the NYSE Listed Company Manual because its average global market capitalization over a consecutive 30 trading-day period and last reported stockholders' equity were both below $50 million.
In accordance with applicable NYSE procedures, the Company plans to timely notify the NYSE that it intends to submit a plan within 45 days that demonstrates its ability to bring the Company into compliance with the NYSE continued listing standards within 18 months of receipt of notice of non-compliance. The notice has no immediate impact on the listing of the Company's common stock, which will continue to trade on the NYSE.
About FTS International, Inc.
Headquartered in Fort Worth, Texas, FTS International is one of the only vertically integrated service providers of its kind in North America. To learn more, visit www.FTSI.com.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements related to the Company's plans to notify the NYSE of its intention to submit a plan to regain compliance and the Company's intention to regain compliance with the NYSE continued listing standards, and other statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "potential," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods.
When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company's filings with the SEC, including the most recently filed Forms 10-Q and 10-K. The Company's filings may be reviewed on its website at ftsi.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov.
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