Cyxtera Technologies, Inc.: Nasdaq/NYSE listing notice — Cyxtera receives Nasdaq delisting notice for bid price non-compliance; 180-day cure period until Nov 1, 2023

Cyxtera Technologies, Inc.

Received Nasdaq notice on May 5, 2023 for failing to maintain $1.00 minimum bid price for 30 consecutive trading days (Mar 22 - May 4, 2023).
No immediate effect on listing or trading; stock continues trading under CYXT.
Company has 180 calendar days (until Nov 1, 2023) to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not compliant by Nov 1, may qualify for second 180-day period by transferring to Nasdaq Capital Market and potentially effecting a reverse stock split.
Failure to regain compliance could lead to delisting; company may appeal to a Nasdaq hearings panel.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Cyxtera Technologies, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(2), 5810(c)(3)(A)

Exact text from the filing

ompany has failed to maintain a minimum bid price of at least $1.00 per share for the prior 30 consecutive trading day period from March 22, 2023 to May 4, 2023, based upon the closing bid price for its Class A common stock, as required by Nasdaq Listing Rule 5450(a)(2) (the “Bid Price Requirement”). The Notice has no immediate effect on the listing or trading of the Company’s Class A common stock on the Nasdaq Global Select Market, and the Company’s Class A common stock will continue to trade under the symbol “CYXT.” In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until November 1, 2023 (the “Compliance Date”), to regain compliance with the Bid Price Requirement.

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Source: SEC EDGAR

accession 0001794905-23-000052

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