Cano Health, Inc.: Nasdaq/NYSE listing notice — Cano Health receives NYSE non-compliance notice for sub-$1 stock price

Cano Health, Inc.

NYSE notified Cano on Sept 5, 2023, that avg closing price of Class A common stock was below $1.00 for 30 consecutive days.
Cano has 6 months to regain compliance; stock continues trading on NYSE during cure period.
To cure, Cano may pursue reverse stock split subject to stockholder approval; largest stockholder InTandem Capital Partners intends to vote in favor.
Cano also evaluating strategic alternatives, including potential sale of company.

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 0.9

Cano Health, Inc. 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

September 5, 2023, Cano Health, Inc. (“ Cano Health ” or the “ Company ”) was notified by NYSE Regulation Inc. (the “ NYSE ”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual (the “ Listing Rule ”) because the average closing stock price of a share of the Company’s Class A common stock was less than $1.00 per share over a consecutive 30 trading-day period. Pursuant to the Listing Rule, the Company has 6 months following the NYSE notification to regain compliance with the Listing Rule, during which time the Company’s Class A common stock will continue to be li

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Source: SEC EDGAR

accession 0001800682-23-000031

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