Local Bounti Corporation/DE (LOCL): Nasdaq/NYSE listing notice — Local Bounti receives NYSE delisting notice for low market cap and equity

Local Bounti Corporation/DE

NYSE notice: average global market cap <$50M and stockholders' equity <$50M over 30 trading days.
Company has 45 days to submit a cure plan; if accepted, 18-month cure period.
Common stock continues trading on NYSE during cure period; no assurance of regaining compliance.
Local Bounti considering all available options to meet 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

Local Bounti Corporation/DE received a nyse noncompliance notice notice regarding market value (rules 802.01B).

Exchange: nyse
Notice: noncompliance notice
Deficiency: market value
Rules: 802.01B

Exact text from the filing

April 3, 2024, Local Bounti Corporation (the “Company”) received a written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01B of the NYSE Listed Company Manual (the “Minimum Market Capitalization Standard”) because its average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its last reported stockholders’ equity was less than $50 million. As required by the NYSE, the Company intends to timely notify the NYSE

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20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Local Bounti Corporation/DE filing history →

Source: SEC EDGAR

accession 0001193125-24-088526

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