Synergy Capital Markets

The New York Stock Exchange acquired the American Stock Exchange in 2008.  It is now known as NYSE-MKT. The NYSE-MKT is an attractive exchange for solid micro and small-cap companies.  NYSE-MKT has four different listing and public shareholder standards with a number of differing combinations within.  As a result, the NYSE-MKT listing requirements offers flexibility to companies operating in different market sectors.

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Synergy Capital Markets is always open to talk to corporate executives who are considering listing on the NYSE-MKT.  The listing requirements can sometimes be confusing and waivers can be applied for in certain circumstances when a company desiring to list is strong in all listing categories but for one.  Do feel free to book an appointment with us if you need assistance to determine if your company qualifies to list on the NYSE-MKT or other exchange.

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Standard One:

• Shareholders Equity: $4 Million USD

• Pre-Tax Income in last fiscal year (or 2 or last 3 years): $750,000 USD

• Market Capitalization: N/A 

• Price per Share: $3.00 USD

• Market Value of Public Float: $3 Million USD

• Distribution: 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months.

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Standard Two:

• Shareholders Equity: $4 Million USD

• Pre-Tax Income in last fiscal year (or 2 or last 3 years): N/A

• Market Capitalization: N/A 

• Price per Share: $3.00 USD

• Market Value of Public Float: $15 Million USD

• Distribution: 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months

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Standard Three:

• Shareholders Equity: $4 Million USD

• Pre-Tax Income in last fiscal year (or 2 or last 3 years): N/A

• Market Capitalization: $50 Million USD

• Price per Share: $2.00 USD

• Market Value of Public Float: $15 Million USD

• Distribution: 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months

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Standard Four:

• Shareholders Equity: N/A

• Pre-Tax Income in last fiscal year (or 2 or last 3 years): N/A

• Market Capitalization: $75 million OR At least $75 million in total assets and $75 million in revenues

• Price per Share: $3.00 USD

• Market Value of Public Float: $20 Million USD

• Distribution: 800 public shareholders and 500,000 shares publicly held OR 400 public shareholders and 1 million shares publicly held OR 400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months

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The NYSE-MKT listing board also conducts a subjective review of all listing candidates looking at the:

• nature of a company’s business;

• market for its products;

• reputation of its management;

• historical record and pattern of growth;

• financial integrity;

• demonstrated earnings power; and

• future outlook

 

Company’s board of directors must agree to abide by the corporate governance requirements of NYSE-MKT.

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NOTE: The fundamental difference between the NYSE and Nasdaq is in the way securities on the exchanges are transacted between buyers and sellers. The Nasdaq is a dealer's market, wherein market participants are not buying from and selling to one another directly but through a dealer, who, in the case of the Nasdaq, is a market maker. The NYSE is an auction market, wherein individuals are typically buying and selling between one another, and there is an auction occurring; that is, the highest bidding price will be matched with the lowest asking price.

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