New Fortress Energy faces Nasdaq warning over share price

May 7 (Reuters) - New Fortress Energy NFE.O said on Thursday it received a notice from the Nasdaq stock exchange that the liquefied natural gas developer no longer complies with the minimum bid price requirement for continued listing.

The company has been grappling with a severe liquidity crunch, as mounting debt and missed interest payments have overshadowed progress on its new projects and led it to repeatedly delay its quarterly filings.

Shares of the company closed at 73 cents on Thursday. The stock has traded below the minimum $1 per share requirement since 19 March.

New Fortress said the notice has no immediate effect on its listing, adding that it has 180 days to regain compliance with the requirement.

The firm added it would evaluate all available options to regain compliance, including a reverse split of outstanding shares.

To regain compliance, the company's closing share price must be at least $1.00 per share for a minimum of 10 consecutive trading days prior to October 28, 2026.

If New Fortress fails to meet this requirement, it will be delisted from the stock exchange.

Earlier this year, New Fortress said it would separate its Brazilian operations into a standalone company as part of a broader restructuring deal with creditors aimed at cutting its debt.