AeroCentury Corp. Listing Standards Compliance Update
29 December 2020 - 9:00AM
After the receipt on September 11, 2020 of a deficiency letter from
NYSE American LLC (the “NYSE American”) notifying AeroCentury Corp.
(the “Company”) of its non-compliance with the NYSE American’s
stockholders’ equity listing standards as set forth in Section
1003(a)(i) – (iii) of the NYSE American Company Guide, the Company
submitted a plan to the NYSE American to bring the Company into
compliance with such listing standards within 18 months of receipt
of the deficiency letter, as disclosed in its report on Form 8-K
filed with the United States Securities and Exchange Commission
(the “SEC”) on September 16, 2020. On November 25, 2020, the
Company received a letter from the NYSE American notifying the
Company of its acceptance of the Company’s plan and continuing the
Company’s listing pursuant to an extension with a target completion
date of March 11, 2022.
AeroCentury is an aircraft operating lessor and
finance company specializing in leasing regional aircraft and
engines utilizing triple net leases. The Company’s aircraft and
engines are leased to regional airlines and commercial users
worldwide.
Forward Looking Statements
The statements herein regarding the Company’s
plan to bring the Company into compliance with the listing
standards of the NYSE American constitute “forward-looking
statements” as defined by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on
projections and assumptions made by management of the Company, are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict
or control. For example, the Company’s ability to regain compliance
with the stockholders’ equity listing standards of the NYSE
American depends upon the Company’s ability to raise additional
capital through the issuance of additional shares of stock, which
in turn depends upon market conditions that are beyond the
Company’s control. Because such statements involve risks and
uncertainties, the actual results and performance of the Company
may differ materially from the results expressed or implied by such
forward-looking statements. Given these risks and uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements. Additional information concerning
certain risks and uncertainties that could cause actual results to
differ materially from those projected or suggested can be found in
the Company’s filings with the Securities and Exchange Commission,
copies of which are available from the SEC or may be obtained upon
request from the Company.
Harold M. Lyons Chief Financial Officer (650)
340-1888
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