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VRS > SEC Filings for VRS > Form 8-K on 20-Aug-2013All Recent SEC Filings

Show all filings for VERSO PAPER CORP. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for VERSO PAPER CORP.


20-Aug-2013

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On August 14, 2013, the New York Stock Exchange, or "NYSE," notified us that we have fallen below the NYSE's continued listing standard requiring that the average closing price of our common stock be at least $1.00 over a consecutive 30 trading-day period. As of August 14, 2013, the date of the NYSE notice, the average closing price of our common stock over the past 30 trading days was $0.97 per share.

To maintain our NYSE listing, we have until February 14, 2014, which is six months from the date of the NYSE notice, to bring the closing share price and the average closing share price of our common stock back above $1.00. We have notified the NYSE that we intend to cure the share price deficiency. During the cure period, our common stock will continue to be traded on the NYSE, subject to our compliance with other NYSE continued listing requirements.

Separately, and as previously disclosed, we have appealed the NYSE staff's determination to delist our common stock due to our failure to satisfy the NYSE's continued listing standard requiring that we have an average market capitalization of at least $75 million over a consecutive 30 trading-day period. The review committee of the NYSE's board of directors currently is scheduled to hear our appeal on September 10, 2013.

On August 20, 2013, we issued a press release announcing the developments disclosed in this report. A copy of the press release is included as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits The following exhibit is included with this report. Exhibit
No. Description

99.1 Press release issued by Verso Paper Corp. on August 20, 2013.


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