Sullivan
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Biography

Amit specializes in corporate and securities law, representing private and public companies as well as investment banks in financing transactions such as private placements, IPOs, and follow-on public offerings, with a focus on cross-border capital markets by foreign private issuers. She advises on corporate governance, disclosure obligations, and compliance with the Securities Exchange Act of 1934, stock exchange listing standards, Sarbanes-Oxley, and Dodd-Frank Acts. Amit also guides companies on general corporate matters and regularly works with firms dually listed in Israel and abroad, as well as foreign companies. Additionally, Amit advises on M&A transactions and supports startups and investors through various stages of venture capital financings, including Series Seed through Series D, SAFEs, and convertible instruments. She counsels emerging companies on corporate, compliance, and privacy issues.

Before joining Sullivan, Amit gained extensive experience in the New York and Tel Aviv offices of leading law firms.

Education
  • New York University School of Law (LL.M.)
  • Reichman University (LL.B., summa cum laude)
  • Reichman University (B.A., magna cum laude)
Bar & Court Admissions
  • New York
  • Israel
Languages
  • English
  • Hebrew
  • French
Viewpoints
All Viewpoints
SEC Approves NYSE and NYSE American $0.25 Minimum Trading Price as Continued Listing Requirement
On August 14, 2026, the Securities and Exchange Commission (SEC) approved proposed rule changes by the New York Stock Exchange LLC (NYSE) and NYSE American LLC (NYSE American) to adopt a new continued listing requirement imposing a minimum trading price of $0.25 per share. This approval follows the SEC’s recent approval of Nasdaq’s new $5 million Market Value of Listed Securities continued listing requirement and reflects a broader trend by the national securities exchanges to tighten continued listing standards for very low-priced and low-market-capitalization issuers.1 Effective July 1, 2027, the new rules are expected to have a particularly significant impact on micro-cap, small-cap and development-stage public companies. Beginning on that date, a NYSE or NYSE American listed security that closes below $0.25 per share on any trading day will be subject to immediate trading suspension and delisting. Overview of the New Requirement Under the approved rules, NYSE and NYSE American will be required to take immediate delisting action if a listed security closes below $0.25 per share on any trading day. This represents a significant change from the exchanges’ historical approach to low-price continued listing deficiencies. For NYSE issuers, the rule amends Section 802.01C of the NYSE Listed Company Manual. For NYSE American issuers, the rule amends Section 1003 of the NYSE American Company Guide. If a security closes below $0.25 per share: the applicable exchange will immediately suspend trading; the exchange will commence delisting proceedings; the issuer will not be eligible to submit a compliance plan or receive a cure period for that deficiency; and the issuer may appeal the delisting determination in accordance with the applicable exchange rules. This represents a significant departure from the traditional approach to many continued listing deficiencies, which often provide issuers with a period to regain compliance while remaining listed. SEC’s Rationale for Approval The SEC approved the rules on an accelerated basis after considering comments from market participants and the exchanges’ stated concerns regarding very low-priced securities. The exchanges argued that securities trading at extremely low prices may be more susceptible to volatility and market manipulation and may raise concerns regarding the maintenance of fair and orderly markets. The SEC agreed that the rules are reasonably designed to address investor protection and market integrity concerns. In its analysis, the SEC noted that securities falling below the $0.25 threshold historically showed a significant likelihood of continuing to trade below that level and, in many cases, were later delisted for other quantitative continued listing deficiencies. At the same time, the SEC acknowledged comments raising concerns that an automatic suspension and delisting trigger could affect issuers experiencing temporary market dislocation or short-term trading pressure. The SEC nevertheless concluded that the delayed effective date and the exchanges’ continuing appeal procedures supported approval. Practical Impact for Listed Companies The new minimum trading price requirement creates a material compliance consideration for NYSE and NYSE American issuers, particularly micro-cap, small-cap, development-stage and capital-intensive companies whose securities trade near or below $1.00 per share. Unlike NYSE’s existing $1.00 average closing price requirement and Nasdaq’s existing $1.00 minimum bid price requirement, both of which generally provide issuers with a period to regain compliance, the new NYSE and NYSE American $0.25 threshold provides no cure period before suspension and delisting proceedings are initiated. NYSE or NYSE American listed issuers should also consider the rule together with other exchange requirements and limitations, including rules relating to reverse stock splits, market capitalization, stockholders’ equity, market value of publicly held shares, public float and shareholder approval requirements. For many smaller issuers, addressing minimum trading price concerns may require advance planning and should not be left until the issuer is already approaching the $0.25 threshold. What Public Companies Should Do Now NYSE and NYSE American listed issuers whose securities trade at low prices should evaluate the potential impact of the new rule before the effective date. Companies should consider: monitoring closing trading prices on an ongoing basis, and reviewing exchange compliance holistically, including market capitalization, equity, and public float requirements; assessing whether the company may be at risk of approaching the $0.25 threshold; evaluating timing and corporate approvals for a potential reverse stock split; considering capital raising or strategic alternatives where appropriate; and developing contingency plans in the event the company’s trading price deteriorates, including considering the potential consequences of a trading suspension, delisting and a possible transition to the OTC market. The delayed effective date of July 1, 2027 is intended to provide affected issuers with time to take proactive steps, including by seeking shareholder approval for a reverse stock split where required. Once effective, however, the rule will not provide for a traditional compliance plan or cure period. * * * * * * * * If you would like further information regarding the new listing standards discussed in this Client Alert or related exchange compliance matters, please contact the lawyer at Sullivan & Worcester LLP with whom you regularly consult, or any of the lawyers listed above. This Client Alert is provided for general informational purposes only and does not constitute legal advice. 1 The SEC’s July 22, 2026 approval of Nasdaq’s $5 million Market Value of Listed Securities continued listing requirement is currently stayed pending further Commission review. For additional information, see Sullivan & Worcester LLP, SEC Stays Approval of Nasdaq’s $5 Million MVLS Continued Listing Requirement Pending Commission Review (August 3, 2026).
Sullivan Advises Olibra LLC on Acquisition by Somfy Group
Sullivan & Worcester represented long-term client Olibra LLC, the owner of the Bond smart-home connectivity platform, in its acquisition by Somfy Group, a global leader in the motorization and automation of openings and closures for homes and buildings. Bond will continue to operate independently under its existing leadership team while benefiting from Somfy's global resources, industry expertise and long-term investment. The transaction brings together Somfy's expertise in motorization and automation with Bond's connectivity platform and interoperability capabilities, supporting the companies' shared vision of advancing connected home and smart shading solutions across North America. The Sullivan deal team included Scott Kaufman, Amy Sheridan, David Guadagnoli, Erika Todd, Joel Carpenter, Mike Palmisciano, Amit Shoval, Joonas Aho, Janice Lee and Lauren Nathan. For more information, please view the press release here.
Sullivan Represents Truliant Consulting in Acquisition by ELIQUENT Life Sciences
Sullivan & Worcester represented Truliant Consulting, a leading pharmacovigilance, risk management, and regulatory compliance advisory firm, in connection with its acquisition by ELIQUENT Life Sciences. The strategic acquisition reinforces ELIQUENT’s position as a premier provider of end-to-end support for every stage of the product lifecycle. “Since our founding, Truliant has delivered high-impact pharmacovigilance and risk management consulting to clients worldwide. Joining ELIQUENT Life Sciences marks an exciting new chapter – one where we will expand our pharmacovigilance expertise within a team that brings complementary strengths. We are fully aligned with ELIQUENT’s vision and look forward to driving innovation through this collaboration,” said Jamie Portnoff, CEO and Co-Founder, Truliant Consulting. The Sullivan team advising Truliant was led by Scott Kaufman and Lewis Greenwald, and included Amit Shoval, Eric Rietveld, Erika Todd, Amy Sheridan, David Guadagnoli, Michael Palmisciano and Nathan Kosik-Desmond.