The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the three preferred stocks enumerated below (“Preferred Stocks”) of Altera Infrastructure L.P. (the “Company”) from the NYSE. Trading in the Company’s Preferred Stocks will be suspended immediately.
Symbol |
Description |
ALIN PRA |
7.25% Series A Cumulative Redeemable Preferred Units |
ALIN PRB |
8.50% Series B Cumulative Redeemable Preferred Units |
ALIN PRE |
8.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units |
NYSE Regulation reached its decision that the Company’s Preferred Stocks are no longer suitable for listing pursuant to Listed Company Manual Section 802.01D. The Company filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas on August 12, 2022 and it is expected that the contemplated restructuring will result in the cancellation of the Company’s Preferred Stocks.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s Preferred Stocks upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005663/en/
Contacts
Company Contacts:
Altera Infrastructure IR:
investor.relations@alterainfra.com
NYSE Contact:
NYSE Communications
PublicRelations-NYSE@ice.com
