Blue Apron Announces NYSE Acceptance of Continued Listing Compliance Plan
Blue Apron (NYSE: APRN) today announced that the New York Stock
Exchange (NYSE) has accepted the company’s business plan (the
“plan”) to regain compliance with the NYSE $50 million average
global market capitalization and stockholders’ equity requirement.
The company’s Class A common stock will continue to be listed and
traded on the NYSE during the share price cure period, as defined
As previously disclosed on December 23, 2022, Blue Apron
received written notice from the NYSE on December 21, 2022 that it
was not in compliance with the NYSE continued listing standards
which require the company to maintain: (i) a minimum average
closing price of at least $1.00 per share over a consecutive 30-day
trading period; and (ii) an average global market capitalization of
at least $50 million over a consecutive 30-day trading period and,
at the same time, a total stockholders’ equity equal to or greater
than $50 million.
On February 6, 2023, the company submitted the plan for curing
the global market capitalization listing standard deficiency to the
NYSE. On February 28, 2023, the NYSE accepted the plan and will
continue to review the company on a quarterly basis for compliance
with the plan. In accordance with NYSE rules, the company must
regain compliance with the minimum $50 million average global
market capitalization and stockholders’ equity requirement on or
before June 21, 2024 (the “market capitalization cure period”).
If the company fails to make sufficient progress against the
plan during the market capitalization cure period, or does not meet
continued listing standards at the end of such cure period, it will
be subject to the initiation of NYSE suspension and delisting
The company has until June 21, 2023 to cure the minimum share
price listing standard deficiency (the “share price cure period").
The company can regain compliance at any time prior to that date
if, on the last trading day of any calendar month during such cure
period, the company has: (i) a closing share price of at least
$1.00; and (ii) an average closing share price of at least $1.00
over the 30-day trading period ending on the last trading day of
The company’s status with the NYSE and its obligations with
respect to the plan do not affect its business operations or its
reporting obligations with the Securities and Exchange Commission
About Blue Apron Blue Apron’s vision is Better Living
Through Better Food™. Launched in 2012, Blue Apron offers fresh,
chef-designed meals that empower home cooks to embrace their
culinary curiosity, challenge their abilities in the kitchen and
see what a difference cooking quality food can make in their lives.
Blue Apron is a carbon-neutral meal-kit company and is focused on
bringing incredible recipes to its customers, while promoting
planetary and dietary wellness for everyone.
Forward Looking Statements This press release includes
statements concerning Blue Apron Holdings, Inc. and its future
expectations, plans and prospects that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. For this purpose, any statements contained
herein that are not statements of historical fact may be deemed to
be forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as "may," "should,"
"expects," "plans," "anticipates," "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential," or "continue," or the negative of these terms or other
similar expressions. The forward-looking statements in this press
release are only predictions. Blue Apron has based these
forward-looking statements largely on its current expectations and
projections about future events and financial trends that it
believes may affect its business, financial condition and results
of operations. These forward-looking statements speak only as of
the date of this press release and are subject to a number of
risks, uncertainties and assumptions including, without limitation,
the company’s ability to regain compliance with the NYSE listing
requirements and other potential factors that could affect future
financial and operating results as set forth in the risks described
in the company’s filings and reports with the SEC and in other
filings that the company may make with the SEC in the future. The
company assumes no obligation to update any forward-looking
statements contained in this press release, whether as a result of
any new information, future events, or otherwise.
version on businesswire.com: https://www.businesswire.com/news/home/20230302005892/en/
Muriel Lussier Blue Apron firstname.lastname@example.org
Blue Apron (NYSE:APRN)
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