Isn’t it automatic??
I thought there was a $1 per share minimum....they had talked about repealing or amending that rule recently...not sure if they actually did it.
If the rule is still in effect, apparently the price has to be below $1 for an extended period, not just one trading day.
http://rturner229.blogspot.com/2008/08/new-york-stock-exchange-delists.html