Vonage to Remain on NYSE For Now

Vonage Holdings Corp. (VG) said Monday the New York Stock Exchange (NYSE) has accepted its plan for meeting stock price and market cap requirements.

Vonage’s shares haven’t traded above the $1 minimum for months and its market cap also has fallen below acceptable levels. The NYSE has warned Vonage to improve its performance or get delisted.

To that end, the IP telephony provider submitted a confidential filing with the NYSE, detailing how its operational and financial initiatives in 2009 and 2010 will lead to compliance for continued listing. The NYSE reportedly has accepted that plan. In a press release, Vonage added it “will be subject to quarterly reviews by the NYSE to ensure progress toward its plan to restore compliance.”

Shares of Vonage closed Monday at 36 cents, down 5.26 percent. Its market cap was $56.42 million, down substantially from $76.8 million on Feb. 11.