Better Choice Company Announces Notification Of Noncompliance With Additional NYSE American Continued Listing Standards, Must Submit A Plan Of Compliance By May 24, 2024
Portfolio Pulse from Benzinga Newsdesk
Better Choice Company Inc. (BTTR) received a notice from NYSE American for noncompliance with listing standards, specifically regarding stockholders' equity levels. The company, with $3.0 million in stockholders' equity and losses in three of the last four fiscal years, must submit a compliance plan by May 24, 2024, to regain compliance by October 24, 2025. The stock will continue trading under the symbol 'BTTR' with a '.BC' designation indicating 'below compliance'. The company is exploring transactions to meet compliance requirements.
April 29, 2024 | 8:36 pm
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Better Choice Company Inc. is notified by NYSE American of noncompliance due to insufficient stockholders' equity. It must submit a compliance plan by May 2024, with shares continuing to trade under 'BTTR.BC'.
The notice of noncompliance from NYSE American due to insufficient stockholders' equity is a significant regulatory issue that could impact investor confidence and the stock's market perception. The '.BC' designation and the requirement to submit a compliance plan by May 2024 highlight the seriousness of the situation. Although the company is committed to regaining compliance, there is no assurance of success within the required timeframe, which could lead to further negative implications for the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100