Regis Corporation Receives Continued Listing Notice From NYSE
October 06 2023 - 4:00PM
Business Wire
Regis Corporation (NYSE: RGS), a leader in the haircare
industry, today announced that it has received written notice (the
“Notice”) from the New York Stock Exchange (“NYSE”) that the
Company does not presently meet the NYSE’s continued listing
standard that requires the Company to maintain a minimum average
closing price of $1.00 per share over a period of 30 consecutive
trading days. As set forth in the Notice, as of October 3, 2023,
the 30 trading-day average price of the Company’s common stock was
$0.92.
Pursuant to applicable NYSE rules, the Company plans to timely
notify the NYSE that it intends to pursue actions to meet the
minimum average share price requirement by pursuing measures that
are in the best interests of the Company and its shareholders. The
NYSE provides for a period of six months following receipt of the
Notice for the Company to meet the share price standard and regain
compliance for continued listing on the NYSE.
The Notice has no immediate impact on the listing of the
Company’s common stock, which will continue to be listed and traded
on the NYSE, subject to the Company’s compliance with the other
continued listing requirements of the NYSE. The Company’s common
stock will continue to trade on the NYSE under the symbol “RGS”
with the designation of “.BC” to indicate the status of the shares
as “below criteria.” The Notice does not affect the Company’s
business operations, or its Securities and Exchange Commission
reporting requirements, and does not conflict with or trigger any
violation under the Company’s material debt or other
agreements.
The Company also remains noncompliant with the market
capitalization requirement of Section 802.01B of the NYSE Listed
Company Manual as previously reported in the Company’s Current
Report on Form 8-K filed on June 15, 2022, for which the compliance
period ends December 13, 2023.
About Regis Corporation
Regis Corporation (NYSE:RGS) is leader in the beauty salon
industry. As of June 30, 2023, the Company franchised, owned or
held ownership interests in 4,863 worldwide locations. Regis'
franchised and corporate locations operate under concepts such as
Supercuts®, SmartStyle®, Cost Cutters®, Roosters® and First Choice
Haircutters®. For additional information about the Company, please
visit the Investor Information section of the corporate website at
www.regiscorp.com.
This release contains or may contain “forward-looking
statements” within the meaning of the federal securities laws,
including statements concerning anticipated future events and
expectations that are not historical facts. These forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements in this document reflect management’s
best judgment at the time they are made, but all such statements
are subject to numerous risks and uncertainties, which could cause
actual results to differ materially from those expressed in or
implied by the statements herein. Such forward-looking statements
are often identified herein by use of words including, but not
limited to, “may,” “believe,” “project,” “forecast,” “expect,”
“estimate,” “anticipate,” “intend” and “plan.” In addition, the
following factors could affect the Company’s actual results and
cause such results to differ materially from those expressed in
forward-looking statements. These factors include our ability to
regain compliance with the NYSE listing requirements, future
compliance with such requirements, potential future application of
suspension and delisting procedures and future quotation of our
common stock, and other potential factors that could affect future
financial and operating results as set forth under Item 1A of our
Form 10-K. We undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. However, your attention is
directed to any further disclosures made in our subsequent annual
and periodic reports filed or furnished with the Securities and
Exchange Commission on Forms 10-K, 10-Q and 8-K and Proxy
Statements on Schedule 14A.
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version on businesswire.com: https://www.businesswire.com/news/home/20231006968198/en/
REGIS CORPORATION: Kersten Zupfer
investorrelations@regiscorp.com
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