Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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)
|
November
28,
2007
|
Impac
Mortgage Holdings, Inc.
|
(Exact
Name of Registrant as Specified in Its
Charter)
|
|
Maryland
|
(State
or Other Jurisdiction of
Incorporation)
|
|
1-14100
|
33-0675505
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
|
19500
Jamboree Road, Irvine, California
|
|
92612
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
|
(949)
475-3600
|
(Registrant’s
Telephone Number, Including Area
Code)
|
(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 (see
General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
3.01.
|
Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard;
Transfer
of Listing.
|
On
November 28, 2007, Impac Mortgage Holdings, Inc. (the “Company”) received a
notice from NYSE Regulation Inc. ( “NYSE Regulation”) that the Company was not
in compliance with the New York Stock Exchange (“NYSE”) continued
listing standard related to maintaining a consecutive thirty day average closing
stock price of over $1.00 per common share. At November 27, 2007, the Company’s
thirty day average price was $0.91 per common share and its absolute closing
price was $0.69 per common share. Under NYSE rules, the Company has six months
to bring its share price and average price back above $1.00, during which time
the Company’s common and preferred stock will continue to be listed and traded
on the NYSE, subject to ongoing reassessment by NYSE Regulation. Impac has
notified NYSE Regulation that it intends to submit plans within the
required 10 day period to address the price deficiency.
If
the
share price and average price are not above $1.00 at the expiration of the
six-month period, then NYSE Regulation will commence suspension and delisting
procedures. In addition, even if such minimum price is achieved and maintained,
there can be no assurance that the Company will be able to continue to meet
the
NYSE's other qualitative or quantitative listing standards for continued
listing.
NYSE
Regulation has informed that Company that it will continue to monitor share
price levels and that it reserves the right to take more immediate listing
action in the event that the stock trades at levels that are viewed as
“abnormally low” on a sustained basis or based on other qualitative
factors.
Beginning
December 5, 2007, the NYSE will make available on its consolidated tape an
indicator “.BC” to reflect that the Company is below the NYSE’s quantitative
continued listing standards.
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.
|
|
|
|
IMPAC
MORTGAGE
HOLDINGS, INC. |
|
|
|
Date:
December 4, 2007 |
|
|
|
|
|
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By: |
/s/ Joseph
R. Tomkinson |
|
Name: Joseph R. Tomkinson |
|
Title: Chief
Executive Officer |