California-based Impac Mortgage Holdings received a notice on Friday from the NYSE American LLC requiring a plan to adjust its stockholders’ equity level amid consecutive financial losses. Otherwise, the mortgage lender will be subject to delisting proceedings, according to a Securities and Exchange Commission (SEC) filing. 

In the most challenging mortgage market in well over a decade, Impac stockholders’ equity reached approximately $3.5 million as of June 30, 2022. The mortgage lender had losses from continuing operations in its five most recent fiscal years ended Dec, 31, 2021, according to the NYSE’s deficiency letter.

However, to comply with the stock exchange standards, a listed company needs stockholders’ equity details ⇒

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