SQZ Biotechnologies Co: Nasdaq/NYSE listing notice — SQZ Biotechnologies receives NYSE non-compliance notice for stock price below $1.00

SQZ Biotechnologies Co

Received NYSE notice on Jan 18, 2023 for failing Section 802.01C: avg closing price below $1.00 over 30 days.
No immediate delisting; company has a six-month cure period to regain compliance.
Can cure if on last trading day of any month, closing price ≥ $1.00 and 30-day average ≥ $1.00.
Considering alternatives including a reverse stock split, subject to stockholder approval.
Stock continues to trade on NYSE during cure period, subject to other listing standards.

item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

SQZ Biotechnologies Co received a nyse noncompliance notice notice regarding minimum bid price (rules 802.01C).

Exchange: nyse
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 802.01C

Exact text from the filing

January 18, 2023, SQZ Biotechnologies Company (the “Company”) received notice (the “NYSE Notification”) from the New York Stock Exchange (“NYSE”) indicating that the Company is not in compliance with Section 802.01C of the NYSE Listed Company Manual (“Section 802.01C”) because the average closing price of the Company’s common stock was less than $1.00 over a consecutive 30 trading-day period. The NYSE Notification does not result in the immediate delisting of the Company’s common stock from the NYSE. The Company plans to notify the NYSE of its intent to cure the stock price deficiency and retu

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Source: SEC EDGAR

accession 0000950170-23-000875

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