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NYSE to Suspend Trading Immediately in SunEdison, Inc. (SUNE) and Commence Delisting Proceedings

Apr 21, 2016

NEW YORK, April 21, 2016 – The New York Stock Exchange (“NYSE”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of SunEdison, Inc. (the "Company") — ticker symbol SUNE – from the NYSE.  Trading in the Company’s common stock will be suspended immediately.

 

NYSE Regulation has determined that the Company is no longer suitable for listing.   Pursuant to Listed Company Manual Section 802.01D, this decision was reached in view of the Company's April 21, 2016 announcement that it and certain of its domestic and international subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of New YorkIn reaching its delisting determination, NYSE Regulation noted the uncertainty as to the timing and outcome of the bankruptcy process, as well as the ultimate effect of this process on the value of the Company's common stock.

 

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 common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

 

Company Contact:

Press:Ben Harborne

[email protected]

(650) 474-1631

 

Investors/Analysts: R. Phelps Morris, CFA

[email protected]

(314) 770-7325

 

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