RITE AID CORP: Nasdaq/NYSE listing notice — Rite Aid receives NYSE delisting notice for market cap and stock price

RITE AID CORP

30-day average market cap ~$49.97M (below $50M) and stockholders' deficit of $(947.4)M.
Average closing price $0.88/share, below $1.00 minimum requirement.
Rite Aid has 45 days to submit a business plan for market cap cure within 18 months; 6 months for price cure.
Stock continues trading on NYSE during cure periods; operations and debt covenants unaffected.
Company continues strategic review of recapitalization or other remedial measures.

item 3.01 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 0.95

RITE AID CORP received a nyse deficiency notice notice regarding minimum bid price (rules 802.01B, 802.01C).

Exchange: nyse
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 802.01B, 802.01C

Exact text from the filing

September 28, 2023, Rite Aid Corporation (the “Company”) received written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company is no longer in compliance with NYSE continued listing standards set forth in Section 802.01B (the “Minimum Market Capitalization Standard”) and Section 802.01C (the “Minimum Stock Price Standard”) of the NYSE’s Listed Company Manual due to the fact that (i) the Company’s average total market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders’ equity was less than $50

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Source: SEC EDGAR

accession 0001104659-23-106854

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