Yes, and the initial listing requirement for AMEX is $3.00 share!
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Listing Guidelines for U.S. Companies
Regular Financial Guidelines
Pre-tax income $750,000 latest fiscal year or
2 of most recent 3 years
Market value of public float $3,000,000
Price $3
Operating history ---
Stockholders' equity $4,000,000
Alternate Financial Guidelines
Pre-tax income ---
Market value of public float $15,000,000
Price $3
Operating history 3 Years
Stockholders' equity $4,000,000
Distribution Guidelines
(applicable to regular and alternate guidelines)
Alternative 1
Public float 500,000
Public Stockholders 800
Average daily volume ---
Alternative 2
Public float 1,000,000
Public Stockholders 400
Average daily volume ---
Alternative 3
Public float 500,000
Public Stockholders 400
Average daily volume 2,000
Regarding Alternate Listing Guidelines
It is recognized that certain financially sound companies are unable to meet fully the Exchange's regular listing criteria because, for example, of the nature of their business, or because of continuing large expenditures of funds for research and development. Such companies may, however, qualify for listing provided they meet the numerical criteria outlined above, have sufficient financial resources to continue operations over an extended period of time, and are otherwise regarded as suitable for Exchange listing.
Initial Public Offerings
In certain circumstances, the Amex may approve an issue for listing "subject to official notice of issuance" immediately prior to effectiveness of the company's initial public offering.
While the Exchange has not adopted special criteria for IPOs, added emphasis is placed on the company's financial strength and its demonstrated earnings history and/or outlook.
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