F45 Training Holdings Inc. (FXLV) Receives NYSE Notice of Non-Compliance with NYSE Trading Share Price Listing Rule
F45 Training Holdings Inc. (FXLV) (“F45” or the “Company”) today announced that it received a notice from the New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s Common Stock (the “Common Stock”) was less than $1.00 over a consecutive 30 trading-day period. The notice has no immediate effect on the listing of the Company’s stock on the NYSE.
The Company intends to respond to the NYSE within ten business days of receipt of the notice affirming its intent to cure the deficiency. Pursuant to the NYSE’s rules, the Company has a six-month period following receipt of the notice to regain compliance with the NYSE’s minimum share price requirement.
The Company intends to consider a number of available alternatives to cure its non-compliance with the applicable price criteria in the NYSE’s continued listing standards. The Company can regain compliance with the minimum share price requirement at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period or on the last day of the cure period, the Company has (i) a closing share price of at least $1.00, and (ii) an average closing share price of at least $1.00 over the 30 trading-day periods ending on the last trading day of that month.
The Company’s Common Stock will continue to be listed and trade on the NYSE during this period, subject to its compliance with other NYSE continued listing standards. The receipt of the notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission (the “SEC”).
This story originally appeared on Investing
