SAN FRANCISCO, March 31, 2020 /PRNewswire/ -- Castlight
Health, Inc. (NYSE: CSLT) announced today that it received
notification from the New York Stock Exchange ("NYSE") on
March 30, 2020 that the company is no
longer in compliance with the 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.
The NYSE notification does not affect Castlight's business
operations, including its service to customers, or Castlight
Health's Securities and Exchange Commission reporting
requirements.
Castlight remains focused on its mission of making it as easy as
possible for users to navigate healthcare, which is essential
during the COVID-19 pandemic. In response, Castlight released the
first COVID-9 testing site directory to cover all 50 states. In
addition, Castlight analyzed the costs of seeking care for COVID-19
symptoms, finding wide variation between cities, within cities, and
for different sites of care.
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, and does intend to regain compliance. The
company's Class B common stock will continue to be listed and trade
on the NYSE during this period, subject to Castlight Health's
compliance with other NYSE continued listing requirements.
About Castlight Health
Castlight is on a mission to
make it as easy as humanly possible for its users to navigate the
healthcare system and live happier, healthier, more productive
lives. Our health navigation platform connects hundreds of health
vendors, benefits resources, and plan designs into one
comprehensive health and wellbeing experience. We guide
individuals—based on their unique profile—to the best resources
available to them, whether they are healthy, chronically ill, or
actively seeking medical care. Castlight transforms the employee
benefit experience into a deeply personalized, yet simple, guided
one, empowering better-informed patient decisions to unlock better
healthcare outcomes and maximizing return on healthcare
investments.
For more information visit www.castlighthealth.com. Follow us on
Twitter and LinkedIn and Like us on Facebook.
Safe Harbor for Forward-Looking Statements
This press
release contains forward-looking statements about Castlight
Health's plans and expectations, including, but not limited to, our
continued listing on the NYSE and the impact of the deficiency
notification on our business. Statements including words such as
"anticipate," "believe," "estimate," "will," "continue," "expect,"
or "future," and statements in the future tense are forward-looking
statements. These forward-looking statements involve risks and
uncertainties, as well as assumptions, which, if they do not fully
materialize or prove incorrect, could cause our results to differ
materially from those expressed or implied by such forward-looking
statements. The risks and uncertainties include those described in
Castlight Health's Annual Report on Form 10-K for the year ended
December 31, 2019 and other documents
filed with or furnished to the Securities and Exchange Commission.
All forward-looking statements in this press release are based on
information available to Castlight Health as of the date hereof.
Castlight Health assumes no obligation to update these
forward-looking statements.
For more information:
press@castlighthealth.com
415-829-1500
Castlight Investor Contact:
ir@castlighthealth.com
415-829-1680
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SOURCE Castlight Health, Inc.