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NEW YORK - New Fortress Energy Inc. (NASDAQ:NFE) announced Friday it received a notice from Nasdaq indicating non-compliance with listing rules due to the company’s failure to file its quarterly report for the period ended June 30, 2025.
The energy infrastructure company has not yet submitted its Form 10-Q to the Securities and Exchange Commission as required under Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of all periodic financial reports.
According to the notice, NFE has 60 calendar days to submit a compliance plan to Nasdaq. The company stated it expects to file the delayed report "well before" this plan is due. If Nasdaq accepts the company’s plan, it may grant NFE up to 180 calendar days from the original due date, or until February 16, 2026, to regain compliance.
The notice does not immediately affect the listing or trading of NFE’s securities on Nasdaq. However, failure to timely regain compliance could result in delisting of the company’s Class A common stock.
New Fortress Energy owns and operates natural gas and liquefied natural gas infrastructure along with shipping and logistics assets. The company stated it is "continuing to work diligently" to finalize and file the required report.
This information is based on a press release statement issued by the company.
In other recent news, New Fortress Energy has secured a significant 15-year contract to supply liquefied natural gas (LNG) to multiple power plants in Puerto Rico. This agreement, reported by El Nuevo Día, involves providing natural gas to five power plants and future rapid response units, with the possibility of expanding to additional facilities. Additionally, New Fortress Energy has entered into a 5-year agreement with the Egyptian Natural Gas Holding Company to deploy a floating storage and regasification unit at Egypt’s LNG import terminal in Damietta.
In financial developments, the company announced an amendment to its Uncommitted Letter of Credit and Reimbursement Agreement with Natixis, transitioning it to committed status and extending its maturity date to November 2025. However, S&P Global Ratings has downgraded New Fortress Energy to ’CCC’, citing concerns over refinancing risks and the company’s ability to manage upcoming debt obligations. Furthermore, a proposed $20 billion natural gas supply contract in Puerto Rico was rejected by the island’s financial oversight board due to concerns over monopolistic control and energy security. These recent developments highlight both opportunities and challenges for New Fortress Energy in its global operations.
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