HOUSTON, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Altus Midstream Company (Nasdaq: ALTM, ALTMW) (“Altus Midstream” or the “company”) today announced that, on Dec. 11, 2018, it received notice from the Nasdaq Stock Market (the “Nasdaq”) indicating that the company’s warrants do not meet the minimum 400 round lot holder requirement for initial listing as set forth in Nasdaq Listing Rule 5515(a)(4). As a result, Nasdaq has determined to delist the warrants from the Nasdaq Capital Market. The company does not intend to appeal the determination, and as such, the warrants will be scheduled for delisting and will be suspended from trading at the opening of business Dec. 20, 2018. A Form 25 (Notification of Removal from Listing and/or Registration) with respect to the warrants will be filed with the Securities and Exchange Commission at such time.
The company anticipates that the warrants will be eligible to be quoted and will continue to trade on the Over-The-Counter (OTC) Bulletin Board following delisting.
The delisting of the warrants will not impact the listing of the company’s Class A Common Stock, which will continue to trade on the Nasdaq Capital Market under the symbol “ALTM.”
About Altus Midstream Company
Altus Midstream Company is a pure-play, Permian Basin midstream C-corporation. Altus Midstream and/or its subsidiaries own substantially all of the gas gathering, processing and transportation assets servicing Apache Corporation’s production in the Alpine High play in the Delaware Basin. Altus Midstream posts announcements, operational updates, investor information and press releases on its website, www.altusmidstream.com.
Forward-looking statements
This news release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for the eligibility, application and acceptance of the company’s warrants for quotation and trading on the OTC Bulletin Board. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See "Risk Factors" in our Definitive Proxy Statement filed with the Securities and Exchange Commission on October 22, 2018 for a discussion of risk factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date of this news release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.
Contacts
Media: (713) 296-7276 Castlen Kennedy
Phil West
Investors: (281) 302-2286 Gary Clark
Websites: www.altusmidstream.com
Source Altus Midstream