UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): July 30, 2019
ULTRA PETROLEUM CORP.
(Exact Name of Registrant as Specified in its Charter)
Yukon, Canada | 001-33614 | N/A | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) | ||
116 Inverness Drive East, Suite 400 Englewood, Colorado |
80112 | |||
(Address of principal executive offices) | (Zip code) |
(303) 708-9740
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
Trading Symbol(s) |
Name of Exchange on Which Registered | ||
Common Shares, without par value | UPL | NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing |
On July 30, 2019, Ultra Petroleum Corp. (the Company) was notified by The Nasdaq Stock Market (Nasdaq) that the Companys common stock will be delisted from the Nasdaq Global Select Market effective as of the open of business on August 8, 2019 as a result of failing to regain compliance with the $1.00 per share minimum bid price requirement for continued inclusion on Nasdaq based on Listing Rule 5550(a)(2). The Nasdaq will apply to the Securities and Exchange Commission to delist the common stock upon completion of all applicable procedures.
The Company anticipates that effective August 8, 2019, the common stock of the Company will commence trading on the OTCQX marketplace under the symbol UPLC. Quotes and related Company information will be available at www.otcmarkets.com.
The Company plans to continue to make all required SEC filings, including those on Forms 10-K, 10-Q and 8-K, and will remain subject to all SEC rules and regulations applicable to reporting companies under the Securities Exchange Act of 1934.
Item 7.01. | Regulation FD Disclosure |
On July 31, 2019, the Company issued a press release with respect to the Nasdaqs suspension of trading and commencement of delisting procedures.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit Number |
Description | |
99.1 | Press release of Ultra Petroleum Corp., dated July 31, 2019 regarding notice of delisting. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
July 31, 2019
ULTRA PETROLEUM CORP. | ||
By: | /s/ Kason D. Kerr | |
Name: | Kason D. Kerr | |
Title: | Vice President, General Counsel and Corporate Secretary |
Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Ultra Petroleum Corp. Announces Commencement of Nasdaq Delisting Proceedings;
Common Stock Expected to Begin Trading on the OTC Markets
Englewood, Colorado July 31, 2019 Ultra Petroleum Corp. (Ultra Petroleum or the Company) (NASDAQ: UPL) today announced that The Nasdaq Stock Market (Nasdaq) has initiated proceedings to delist the Companys common stock, effective August 8, 2019, as a result of the Company not regaining compliance with the $1.00 per share minimum bid price requirement for continued inclusion on Nasdaq based on Listing Rule 5550(a)(2). The Company expects that its common stock will begin to trade on OTCQX beginning August 8, 2019 and expects to trade under the symbol UPLC.
After consideration of multiple factors, the Companys board of directors determined that attempting to regain compliance with Nasdaqs continued listing requirement by effecting a reverse stock split would not be in the best interest of the Company at this time. The transition to the OTC Markets will not affect the Companys business operations. The Nasdaq will apply to the Securities and Exchange Commission (SEC) to delist the Companys common stock upon completion of applicable procedures. The Company will remain subject to the public reporting requirements of the SEC following the transfer.
About Ultra Petroleum
Ultra Petroleum Corp. is an independent energy company engaged in domestic natural gas and oil exploration, development and production.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement, including any opinions, forecasts, projections or other statements, other than statements of historical fact, are or may be forward-looking statements. Although the Company believes the expectations reflected in any forward-looking statements herein are reasonable, we can give no assurance that such expectations will prove to have been correct and actual results may differ materially from those projected or reflected in such statements. In addition, certain risks and uncertainties inherent in our business as well as risks and uncertainties related to our operational and financial results are set forth in our filings with the SEC, particularly in the section entitled Risk Factors included in our Annual Report on Form 10-K for the most recent fiscal year, our most recent Quarterly Reports on Form 10-Q, and from time to time in other filings made by the Company with the SEC. Some of these risks and uncertainties include, but are not limited to, increased competition, the timing and extent of changes in prices for oil and gas, particularly in the areas where we own properties, conduct operations, and market our production, as well as the timing and extent of our success in discovering, developing, producing and estimating oil and gas reserves, our ability to successfully monetize the properties we are marketing, weather and government regulation, and the availability of oil field services, personnel and equipment.
For further information contact:
Investor Relations
303-708-9740, ext. 9898
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