Fresh Vine Wine, Inc. Receives Acceptance Letter From NYSE American; NYSE American Has Granted The Company A Plan Period Through March 8, 2025 To Regain Compliance With Sections 1003(a)(i) And (ii) Of The Company Guide
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Fresh Vine Wine, Inc. (NYSE:VINE) received an Acceptance Letter from NYSE American confirming the acceptance of its compliance plan. The company was previously notified of non-compliance with the stockholders' equity requirement of Section 1003(a)(ii) of the NYSE American Company Guide, having reported stockholders' equity below $4 million and losses in recent fiscal years. Fresh Vine Wine reported $2.4 million in equity as of June 30, 2023, and $1.1 million as of September 30, 2023. The company has until March 8, 2025, to regain compliance with Sections 1003(a)(i) and (ii), during which it will be subject to periodic reviews and risk of delisting if it fails to comply. Its stock will continue to trade under the symbol 'VINE' with a '.BC' indicator signaling noncompliance.
November 27, 2023 | 1:19 pm
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NEUTRAL IMPACT
Fresh Vine Wine, Inc. has been granted until March 8, 2025, to meet NYSE American's listing standards, with its stock continuing to trade under the ticker 'VINE' but with a noncompliance indicator.
The acceptance of the compliance plan by NYSE American provides a temporary relief for Fresh Vine Wine, indicating a neutral short-term impact on the stock as it neither resolves the underlying financial issues nor immediately threatens delisting. The '.BC' indicator may cause some investor concern, but the extended timeframe to regain compliance could mitigate immediate negative reactions.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100