Item 8.01. Other Events.
On November 19, 2020, the New York Stock Exchange ("NYSE") notified HighPoint
Resources Corporation (the "Company") that the Company had regained compliance
with the NYSE continued listing standard relating to the average closing price
of the Company's shares. As previously disclosed, on March 13, 2020, the Company
received notice from the NYSE that it was not in compliance with the NYSE's
continued listing standards as a result of the average closing price of the
Company's common stock being less than $1.00 per share over a consecutive 30
trading-day period. The Company regained compliance after its average closing
share price for the 30 trading-day period ending November 19, 2020 was above the
NYSE's minimum requirement of $1.00 per share.
On November 24, 2020, the Company issued a press release announcing the Company
has regained compliance with the NYSE's continued listing standards relating to
the average closing price of the Company's shares. A copy of the press release
is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
As reported on November 10, 2020, the Company received a separate notice from
the NYSE that it is no longer in compliance with the NYSE continued listing
standards set forth in Section 802.01B of the NYSE's Listed Company Manual due
to the fact that the Company's average global market capitalization over a
consecutive 30 trading-day period was less than $50 million and, at the same
time, its stockholders' equity was less than $50 million. In accordance with
NYSE procedures, the Company intends to submit a plan to the NYSE within 45 days
of receipt of the notice advising the NYSE of definitive action it has taken, or
is taking, to bring it into compliance within 18 months of receipt of the
notice. The Company's common stock will continue to be listed and traded on the
NYSE during the applicable cure period under the common stock trading symbol
"HPR."
In accordance with General Instruction B.2 of Form 8-K, the information in this
Item shall not be deemed "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934, nor shall it be deemed incorporated by reference in any
filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description of Exhibits
99.1 Press Release, dated November 24, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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