CURO Group Holdings Corp. Receives Continued Listing Standard Notice from the NYSE
19 Outubro 2023 - 5:30PM
Business Wire
CURO Group Holdings Corp. (NYSE:CURO) today announced that on
October 16, 2023, it received notice (the “Notice”) from the New
York Stock Exchange (NYSE) that it is no longer in compliance with
the NYSE continued listing standards set forth in Section 802.01B
of the NYSE’s Listed Company Manual due to the fact that the
Company’s average global market capitalization over a consecutive
30 trading-day period was less than $50 million while its
stockholders’ equity was less than $50 million.
The Notice does not affect the Company’s business operations or
its reporting obligations with the Securities and Exchange
Commission, and it does not conflict with or cause an event of
default under any of the Company’s material debt or other
agreements.
As set forth in the Notice, as of October 16, 2023, the 30
trading-day average global market capitalization of the Company was
approximately $44.7 million and the Company’s last reported
stockholders’ deficit as of June 30, 2023 was $268.4 million.
The Company has notified the NYSE that it will submit a plan
within 45 days of the Notice advising the NYSE of definitive action
it has taken, or is taking, to bring it into conformity with
Section 802.01B within 18 months of receipt of the Notice. The NYSE
will review the Company’s plan and, within 45 days, make a
determination as to whether the Company has made a reasonable
demonstration of its ability to come into conformity with Section
802.01B within 18 months. If the Company’s plan is not submitted on
a timely basis or is not accepted, the NYSE will initiate delisting
proceedings. If the NYSE accepts the Company’s plan, the Company’s
common stock will continue to be listed and traded on the NYSE
during the cure period, subject to the Company’s compliance with
the plan and other continued listing standards. The NYSE will
review the Company on a quarterly basis to confirm compliance with
the plan. If the Company fails to comply with the plan or does not
meet continued listing standards at the end of the 18-month cure
period, it will be subject to the prompt initiation of NYSE
suspension and delisting procedures.
The Notice has no immediate impact on the listing of the
Company’s common stock, which will continue to be listed and traded
on the NYSE during the cure period under the common stock trading
symbol “CURO”, subject to the Company’s continued compliance with
the plan and other listing requirements of the NYSE. However, the
common stock trading symbol will have an added designation of “.BC”
to indicate that the status of the common stock is below criteria
with the NYSE continued listing standards. The “.BC” indicator will
be removed at such time as the Company regains compliance.
Cautionary Note Regarding Forward-Looking Statements
This press release contains, and oral statements made from time
to time by our representatives may contain, “forward-looking
statements.” Forward-looking statements include statements
identified by words such as “could,” “may,” “might,” “will,”
“intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,”
“continues,” “projects” and similar references to future periods,
or by the inclusion of forecasts or projections. Forward-looking
statements are based on our current expectations and assumptions
regarding capital market conditions, our business, the economy and
other future conditions. Because forward-looking statements relate
to the future, by their nature, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. As a result, our actual results may differ
materially from those contemplated by the forward-looking
statements. Important factors that could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, the Company’s ability to develop a
plan to regain compliance with the continued listing criteria of
the NYSE; the NYSE’s acceptance of such plan; the Company’s ability
to execute such plan and to continue to comply with applicable
listing standards within the available cure period; risks arising
from the potential suspension of trading of the Company’s common
stock on the NYSE; regional, national or global political,
economic, business, competitive, market and regulatory conditions,
including risks regarding our ability to manage inventory or
anticipate consumer demand; changes in consumer confidence and
spending; our competitive environment; our failure to open new
profitable stores or successfully enter new markets and other
factors set forth under “Risk Factors” in our Annual Report on Form
10-K for the fiscal year ended December 31, 2022. Any
forward-looking statement made in this report speaks only as of the
date on which it is made. The Company undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise.
(CURO-NWS)
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version on businesswire.com: https://www.businesswire.com/news/home/20231019175314/en/
Investor Relations: Email: IR@curo.com
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