Report of Foreign Issuer (6-k)
June 17 2020 - 06:02AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of June, 2020
Commission File Number
001-36671
Atento S.A.
(Translation of Registrant's name into
English)
4, rue
Lou Hemmer, L-1748 Luxembourg Findel
Grand Duchy of Luxembourg
(Address of principal executive
office)
Indicate by check mark whether the
registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
Form 20-F: x Form 40-F: o
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1):
Yes: o No: x
Note: Regulation S-T Rule 101(b)(1) only
permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7):
Yes: o No: x
Note: Regulation S-T Rule 101(b)(7) only permits
the submission in paper of a Form 6-K if submitted to furnish a
report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in
which the registrant is incorporated, domiciled or legally
organized (the registrant’s “home country”), or under the rules of
the home country exchange on which the registrant’s securities are
traded, as long as the report or other document is not a press
release, is not required to be and has not been distributed to the
registrant’s security holders, and, if discussing a material event,
has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Atento Receives NYSE Compliance
Notification
·
Notification relates to Atento shares falling
below a continued listing standard
·
Average closing price over last 30 trading
days already above minimum requirement of $1.00
·
Company considering all options to remain
compliant with NYSE’s listing requirements
·
Compliance may be regained through January 1,
2021
NEW YORK, June 16, 2020 –
Atento S.A. (NYSE: ATTO, “Atento” or
“Company”), the leading provider of customer relationship
management and business process outsourcing services (CRM / BPO) in
Latin America and one of the top five providers worldwide, today
announced that it received a May 13, 2020 letter from the New York
Stock Exchange (“NYSE”) notifying the Company that its Common
Shares had traded below an average closing price of $1.00 over a
consecutive 30-trading-day period, the minimum price threshold
required under Section 802.01C of the NYSE Listed Company
Manual.
Under the NYSE’s Continued Listing Standards,
a Listed Company would have a period of six months following
the receipt of the notification to regain compliance. In order to
regain compliance, on the last trading day in any calendar month,
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 consecutive trading-day period ending on the last
trading day of such month.
Pursuant to rule filing NYSE SR 2020-36, which
became effective on April 21, 2020, the NYSE is providing a longer
period of time for Companies to regain compliance by tolling the
applicable compliance period through June 30, 2020 for companies
that have been identified as below compliance with certain
continued listing requirements, including its minimum $1.00 share
price and $50 million market capitalization. The
tolling period is now calculated as beginning on July 1, 2020,
and Atento has now until January 1,
2021 to regain compliance. If the Company is unable to regain compliance,
the NYSE would initiate procedures to suspend and delist the common
stock.
On May 28, 2020, Atento notified the NYSE of
its intent to cure the aforementioned listing standard deficiency.
The Company’s common shares will continue to be listed and traded
on the NYSE, subject to compliance with this and other NYSE’s
Continued Listing Standards and to other rights of the NYSE to
delist the common shares. Currently, the Company is in compliance
with all other NYSE Continued Listing Standards. The NYSE
notification does not affect the Company’s business operations or
its SEC reporting requirements.
As of June 15, 2020, the trailing 30
trading-day average closing price of Atento’s common shares was
already above $1.00 at $1.04, while in June, month-to-date, the
average closing price was $1.30.
Additional information can be found at
investors.atento.com, including the Company’s Annual Report on
Form 20F, which was filed with the SEC on April 17,
2020.
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About Atento
Atento is the largest provider of customer
relationship management and business process outsourcing (CRM BPO)
services in Latin America, and among the top five providers
globally, based on revenues. Atento is also a leading provider of
nearshoring CRM/BPO services to companies that carry out their
activities in the United States. Since 1999, the company has
developed its business model in 13 countries where it employs
150,000 people. Atento has over 400 clients to whom it offers a
wide range of CRM/BPO services through multiple channels. Atento’s
clients are mostly leading multinational corporations in sectors
such as telecommunications, banking and financial services, health,
retail and public administrations, among others. Atento’s shares
trade under the symbol ATTO on the New York Stock Exchange (NYSE).
In 2019, Atento was named one of the World’s 25 Best Multinational
Workplaces and one of the Best Multinationals to Work for in Latin
America by Great Place to Work®. For more information visit
www.atento.com
Investor Relations
Shay Chor
+55 11 3293-5926
shay.chor@atento.com
|
Investor
Relations
Fernando
Schneider
+ 55 11
3779-8119
fernando.schneider@atento.com
|
Media
Relations
Pablo
Sánchez Pérez
+34 670031347
pablo.sanchez@atento.com
|
Forward-Looking Statements
This press release contains forward-looking
statements. Forward-looking statements can be identified by the use
of words such as "may," "should," "expects," "plans,"
"anticipates," "believes," "estimates," "predicts," "intends,"
"continue" or similar terminology. These statements reflect only
Atento’s current expectations and are not guarantees of future
performance or results. These statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those contained in the forward-looking statements. In
particular, the COVID-19 pandemic, and governments’ extraordinary
measures to limit the spread of the virus, are disrupting the
global economy and Atento’s industry, and consequently adversely
affecting the Company’s business, results of operation and cash
flows and, as conditions are recent, uncertain and changing
rapidly, it is difficult to predict the full extent of the impact
that the pandemic will have. Risks and uncertainties include,
but are not limited to, competition in Atento’s highly competitive
industries; increases in the cost of voice and data services or
significant interruptions in these services; Atento’s ability to
keep pace with its clients' needs for rapid technological change
and systems availability; the continued deployment and adoption of
emerging technologies; the loss, financial difficulties or
bankruptcy of any key clients; the effects of global economic
trends on the businesses of Atento’s clients; the non-exclusive
nature of Atento’s client contracts and the absence of revenue
commitments; security and privacy breaches of the systems Atento
uses to protect personal data; the cost of pending and future
litigation; the cost of defending Atento against intellectual
property infringement claims; extensive regulation affecting many
of Atento’s businesses; Atento’s ability to protect its proprietary
information or technology; service interruptions to Atento’s data
and operation centers; Atento’s ability to retain key personnel and
attract a sufficient number of qualified employees; increases in
labor costs and turnover rates; the political, economic and other
conditions in the countries where Atento operates; changes in
foreign exchange rates; Atento’s ability to complete future
acquisitions and integrate or achieve the objectives of its recent
and future acquisitions; future impairments of our substantial
goodwill, intangible assets, or other long-lived assets; and
Atento’s ability to recover consumer receivables on behalf of its
clients. In addition, Atento is subject to risks related to its
level of indebtedness. Such risks include Atento’s ability to
generate sufficient cash to service its indebtedness and fund its
other liquidity needs; Atento’s ability to comply with covenants
contained in its debt instruments; the ability to obtain additional
financing; the incurrence of significant additional indebtedness by
Atento and its subsidiaries; and the ability of Atento’s lenders to
fulfill their lending commitments. Atento is also subject to other
risk factors described in documents filed by the company with the
United States Securities and Exchange Commission.
These forward-looking statements speak only as
of the date on which the statements were made. Atento undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
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ATENTO S.A.
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Date:
June
16, 2020.
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By:
/s/ Carlos
López-Abadía
Name:
Carlos López-Abadía
Title:
Chief Executive Officer
By:
/s/ José Antonio de Sousa
Azevedo
Name:
José
Antonio de Sousa Azevedo
Title:
Chief Financial Officer
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