Party City Receives Continued Listing Standard Notice from the NYSE
December 16 2022 - 4:15PM
Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today
announced that it received notification from the New York Stock
Exchange (“NYSE”) on December 15, 2022 that the Company is no
longer in compliance with NYSE continued listing criteria that
requires listed companies to maintain an average closing share
price of at least $1.00 over a consecutive 30 trading-day period.
Under NYSE’s rules, the Company has a period of six months from
receipt of the notice to regain compliance with the NYSE’s minimum
share price requirement. In order to regain compliance, on the last
trading day of any calendar month during the cure period, the
Company’s shares of common stock, $0.01 par value per share (the
“Common Stock”), must have (i) a closing price of at least $1.00
per share and (ii) an average closing price of at least $1.00 per
share over the 30-trading day period ending on the last trading day
of such month.
The Company’s Common Stock will continue to be listed and traded
on the NYSE during this period, subject to its compliance with
other NYSE continued listing requirements. The Common Stock will
continue to trade under the symbol “PRTY” but will have an added
designation of “.BC” to indicate the status of the Common Stock as
“below compliance” with the NYSE continued listing standards. The
“.BC” indicator will be removed at such time as the Company regains
compliance.
The NYSE notification does not affect Party City’s business
operations or its Securities and Exchange Commission reporting
requirements, nor does it conflict with or cause an event of
default under the Company’s material debt or other agreements.
About Party City
Party City is a global leader in the celebrations industry. A
vertically integrated designer, manufacturer, distributor and
retailer, PCHI offers consumer party goods in more than 100
countries around the world. PCHI operates multiple business
divisions, including the Retail Division and the Consumer Products
Division. On the retail side, Party City (partycity.com) is a
leading omnichannel retailer in the celebrations category,
operating more than 800 company-owned and franchise stores
throughout North America. Halloween City (halloweencity.com) pop-up
storefronts are also located throughout North America seasonally.
Comprising the Consumer Products Group are design and manufacturing
entities Amscan, an industry leader across multiple celebrations
goods and costumes, and Anagram, a dominant player in balloons.
PCHI is headquartered in Woodcliff Lake, NJ, with additional
locations throughout the Americas and Asia.
Contacts
Investor RelationsICRFarah Soi and Rachel
Schacter203-682-8200InvestorRelations@partycity.com
Media Relations ICRBrittany Fraser
203-682-8200PartyCityPR@partycity.com
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