- Current report filing (8-K)
September 22 2009 - 6:01AM
Edgar (US Regulatory)
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):
September 16, 2009
EDGE PETROLEUM CORPORATION
(Exact name of
registrant as specified in its charter)
Delaware
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000-22149
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76-0511037
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(State or other
jurisdiction of
incorporation)
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(Commission File
Number)
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(I.R.S. Employer
Identification No.)
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Travis
Tower
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1301
Travis, Suite 2000
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Houston,
Texas
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77002
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(Address of
principal executive offices)
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(Zip Code)
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(713)
654-8960
(Registrants
telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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:
o
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item 3.01.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On
September 16, 2009, Edge Petroleum Corporation (the Company) received
notice from The Nasdaq Stock Market that the minimum bid price of the Companys
common stock was below $1.00 per share for 30 consecutive business days and
that the Company was therefore not in compliance with the minimum bid price rule for
continued listing set forth in Nasdaq Marketplace Rule 5450(a)(1).
The
notice states that the Company will be afforded 180 calendar days, or until March 15,
2010, to regain compliance with the minimum bid price rule. If at any time prior to March 15, 2010
the bid price of the Companys common stock closes at $1.00 per share or higher
for a minimum of 10 consecutive business days, Nasdaq staff will provide the
Company with written confirmation of compliance with the minimum bid price rule and
the matter will be resolved.
If
the Company does not regain compliance by March 15, 2010, Nasdaq staff
will provide written notification to the Company that its common stock is
subject to delisting. At that time, the
Company may appeal Nasdaqs delisting determination to a Nasdaq Hearings
Panel. Alternatively, the Company could
apply to transfer its common stock to The Nasdaq Capital Market if it satisfies
all of the requirements, other than the minimum bid price rule, for initial
listing on The Nasdaq Capital Market set forth in Nasdaq Marketplace Rule 5505. If the Company were to elect to apply for
such transfer and if it satisfies the applicable requirements and its
application is approved, the Company would have an additional 180 days to
regain compliance with the minimum bid price rule while listed on The Nasdaq
Capital Market.
The
Company intends to actively monitor the bid price for its common stock between
now and March 15, 2010, and is currently evaluating all available options
in response to the notice to resolve the deficiency and regain compliance with
the Nasdaq minimum bid price rule but has not yet determined to take any
other action in response to the notice.
On
September 21, 2009, the Company issued a press release announcing receipt
of notice from The Nasdaq Stock Market regarding non-compliance with the
minimum bid price rule. A copy of the press release is attached to
this Current Report as Exhibit 99.1 and is incorporated herein by
reference.
Item
9.01.
Financial
Statements and Exhibits.
(d) Exhibits.
Exhibit No.
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Description
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99.1
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Press
Release by Edge Petroleum Corporation dated September 21, 2009
announcing receipt of notice from The Nasdaq Stock Market regarding
non-compliance with the minimum bid price rule
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2
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.
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EDGE
PETROLEUM CORPORATION
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Date:
September 21, 2009
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By:
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/s/
John W. Elias
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John
W. Elias
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Chairman,
President & Chief Executive Officer
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3
INDEX TO EXHIBITS
Exhibit No.
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Description
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99.1
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Press
Release by Edge Petroleum Corporation dated September 21, 2009 announcing
receipt of notice from The Nasdaq Stock Market regarding non-compliance with
the minimum bid price rule
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4
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