Benzinga | Nov 24, 2021 09:02AM EST

CPI Aerostructures Reports NYSE American Accepted Timely Filing Criteria Plan For Compliance

CPI Aerostructures, Inc. ("CPI Aero" or "Company") (NYSE:CVU) announced that on November 23, 2021, it received a notice from the NYSE American LLC ("Exchange") informing the Company that the Exchange had accepted CPI Aero's plan to regain compliance with the Exchange's standards for continued listing of its common stock under the timely filing criteria included in the NYSE American Company Guide.

The Exchange has granted CPI Aero until April 14, 2022, to regain compliance with the timely filing criteria. If the Company is unable to cure the delinquency by April 14, 2022, the Company may request an additional extension up to the maximum cure period of May 24, 2022. In addition, if the Company does not make progress consistent with the plan during the plan period or if the Company does not complete its delayed filings with the SEC by the end of the maximum 12-month cure period on May 24, 2022, Exchange staff will initiate delisting proceedings as appropriate.

The notice from the Exchange that the Company's plan to regain compliance has been accepted has no immediate impact on the listing of the Company's common stock on the Exchange which is being continued pursuant to an extension during the plan period.