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.

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.  

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.

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

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

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

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

Mr. Steve Muehler

Founder & Managing Member

Private Placement Markets

101 California Street

San Francisco, CA 94111

Email: Steve@PPMSecurities.com

Phone: (877) 259-8066

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