Jones Energy,Inc. (NYSE:JONE) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

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Jones Energy,Inc. (NYSE:JONE) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Jones Energy,Inc. (NYSE:JONE) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure Satisfy a Continued Listing Ruleor Standard; Transfer of listing.

On November26, 2018, Jones Energy,Inc. (the “Company”) received a letter from The New York Stock Exchange (the “NYSE”) notifying the Company that it had failed to satisfy Rule802.01B of the NYSE’s Listed Company Manual, which requires listed companies to have an average global market capitalization, over a consecutive 30 trading-day period, of not less than $15,000,000.

As such, the Company chose to move its ClassA common stock, par value $0.001 per share (the “ClassA Common Stock”), to the OTCQX®effective at the close of trading on November26, 2018. The ClassA Common Stock will begin trading on the OTCQX®upon the trading open on November27, 2018. The move will not interrupt the trading of ClassA Common Stock. The Company remains a publicly traded company and will retain its ticker symbol “JONE”. The Company will continue to make all required filings with the Securities and Exchange Commission (the “SEC”) and will remain subject to all SEC rulesand regulations applicable to reporting companies under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

The delisting of the Company’s ClassA Common Stock from the NYSE could negatively impact the Company by (i)reducing the liquidity and market price of the Company’s ClassA Common Stock; (ii)reducing the number of investors willing to hold or acquire the Company’s ClassA Common Stock, which could negatively impact the Company’s ability to raise equity financing; (iii)limiting the Company’s ability to use a registration statement to offer and sell freely tradable securities, thereby preventing the Company from accessing the public capital markets; and (iv)impairing the Company’s ability to provide equity incentives to its employees.

Item 7.01 Regulation FD Disclosure.

On November26, 2018, the Company issued a press release announcing the movement of the Company’s ClassA Common Stock from the NYSE to the OTCQX®. A copy of the press release is attached as Exhibit99.1.

The information in this Item 7.01 of this Current Report on Form8-K, including Exhibit99.1 attached hereto, shall not be deemed “filed” for purposes of Section18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing..

Item 9.01 Finance Statements and Exhibits.

(d)Exhibits

ExhibitNo.

Description

99.1

Press Release, dated November26, 2018


Jones Energy, Inc. Exhibit
EX-99.1 2 a18-40702_1ex99d1.htm EX-99.1 Exhibit 99.1     JONES ENERGY,…
To view the full exhibit click here

About Jones Energy,Inc. (NYSE:JONE)

Jones Energy, Inc. is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma. The Company’s oil is generally sold under short-term, extendable and cancellable agreements with unaffiliated purchasers. The Company’s natural gas is sold at delivery points at or near producing wells to natural gas gathering and marketing companies. Its total estimated proved reserves are approximately 101.7 million barrels of oil equivalent (MMBoe). Approximately 25% of its total estimated proved reserves consist of oil, over 32% consist of natural gas liquids (NGLs) and over 43% consist of natural gas. Its properties include over 1,020 gross producing wells.