Rubicon Technologies, Inc.: Nasdaq/NYSE listing notice — Rubicon receives NYSE non-compliance notice for average share price below $1.00

Rubicon Technologies, Inc.

NYSE notified Rubicon on March 28, 2023 that average closing price of Class A common stock was below $1.00 over 30 consecutive trading days.
Company has six-month cure period; plans to notify NYSE by April 11 of intent to cure.
Alternatives include reverse stock split, subject to stockholder approval at annual meeting.
Stock continues trading on NYSE with '.BC' designation; no immediate delisting.
Non-compliance does not affect business operations or debt obligations.

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

Rubicon Technologies, Inc. received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).

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

Exact text from the filing

March 28, 2023, Rubicon Technologies, Inc. (the “Company”) received notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the average per share trading price of its Class A common stock (the “Common Stock”) was below the NYSE’s continued listing standard rule relating to minimum average share price. Rule 802.01C of the NYSE’s Listed Company Manual requires that a company’s common stock trade at a minimum average closing price of $1.00 over a consecutive 30 trading-day period. Pursuant to Section 802.01C, the Company has a period of six months following the receipt of the Not

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Source: SEC EDGAR

accession 0001829126-23-002509

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