ZEPHYR
COVE, Nev., Sept. 4,
2024 /PRNewswire/ -- VirnetX Holding Corporation
(NYSE: VHC) (the "Company"), an Internet security software and
technology company, today announced that on August 28, 2024, it received a notice (the
"Notice") from the New York Stock Exchange (the "NYSE") that the
Company is not in compliance with Section 802.01B of the NYSE's Listed Company Manual
("Rule 802.01B") because its average
global market capitalization over a consecutive 30 trading-day
period was less than $50 million,
and, at the same time, its stockholders' equity was less than
$50 million. The Notice does not have
an immediate impact on the listing of the Company's common stock
and does not affect the Company's business operations or its
Securities and Exchange Commission reporting requirements.
In accordance with NYSE procedures, within 45 days from receipt
of the Notice, the Company intends to submit a plan to the NYSE
advising it of the definitive action(s) the company has taken, is
taking, or plans to take that would bring it into conformity with
the continued listing standards. If the NYSE accepts the Company's
plan, the Company's common stock will continue to be listed and
traded on the NYSE during the 18-month cure period, subject to the
company's compliance with other NYSE continued listing standards
and continued periodic review by the NYSE of the Company's progress
with respect to its plan.
About VirnetX
VirnetX Holding Corporation is an Internet security
software and technology company with industry-leading, patented
technology for Zero Trust Network Access ("ZTNA") based secure
network communications. VirnetX's software and technology
solutions, including its Secure Domain Name Registry and
Technology, VirnetX One®, VirnetX War Room®, VirnetX Matrix®, and
Gabriel Connection Technology®, are designed to be device and
location independent, and enable a secure real-time communication
environment for all types of enterprise applications, services, and
critical infrastructures. For more information, please
visit www.virnetx.com.
Special Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our
filings with the Securities and Exchange Commission.
Statements herein may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act"), and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
These forward-looking statements are based upon our current
expectations, estimates, assumptions, and beliefs concerning future
events and conditions and may discuss, among other things, our
ability to develop a plan to regain compliance with the continued
listing criteria of the NYSE; the NYSE's acceptance of such plan;
the Company's ability to execute such plan and to continue to
comply with applicable listing standards within the available cure
period; risks arising from the potential suspension of trading of
the Company's common stock on the NYSE, and other risks and
uncertainties detailed from time to time in our reports filed with
the SEC. Any statement that is not historical in nature is a
forward- looking statement and may be identified by the use of
words and phrases such as "anticipates," "believes," "estimates,"
"expects," "intends," "plans," "predicts," "projects," "will be,"
"will continue," "will likely result in," and similar expressions.
Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements are
necessarily subject to risks, uncertainties, and other factors,
many of which are outside our control, and could cause actual
results to differ materially from such statements and from our
historical results and experience. These risks, uncertainties and
other factors include, but are not limited to risks detailed in our
filings with the Securities and Exchange Commission (the "SEC").
Readers are cautioned that it is not possible to predict or
identify all the risks, uncertainties and other factors that may
affect future results and that the risks described herein should
not be considered a complete list. Any forward-looking statement
speaks only as of the date on which such statement is made.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE
OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW
INFORMATION, FUTURE EVENTS OR OTHERWISE.
Contact:
Investor Relations
VirnetX Holding Corporation
415.505.0456
ir@virnetx.com
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SOURCE VirnetX Holding Corporation