Aventine Renewable Energy delists from NYSE after market cap falls; will trade on bulletin board although Chapter 11 filing may be imminent

In Illinois, Aventine Renewable Energy has been suspended from trading on the New York Stock Exchange, when the company’s market capitalization fell below $15 million for more than 30 days. The company’s shares will move to the bulletin boards.

Aventine has warned that it may seek Chapter 11 bankruptcy protection if it does not secure a new financing structure, as the company cannot meet a $15 million interest payment due next week, or make payments on a senior note or pay down its construction loan. The company reported a $36.9 million loss in the fourth quarter on falling ethanol prices.

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