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Regis Announces Appeal of NYSE Determination to Commence Proceedings to Delist Regis’ Common Stock
MINNEAPOLIS--(BUSINESS WIRE)-- Regis Corporation (NYSE: RGS), a leader in the haircare industry, today announced that it has requested an oral hearing of the
About this update from Regis Corporation
[{"type":"text","content":" MINNEAPOLIS--(BUSINESS WIRE)--\nRegis Corporation (NYSE: RGS), a leader in the haircare industry, today announced that it has requested an oral hearing of the NYSE’s decision to commence proceedings to delist Regis’ common stock from the New York Stock Exchange (“NYSE”).\n\n\nRegis looks forward to presenting its plan of compliance at the hearing, and in the interim, will continue to evaluate all available listing options.\n\n\nDuring this time, Regis common stock has not been suspended from trading and is expected to continue to be listed and traded on the NYSE while any such appeal remains pending. However, the NYSE reserves the right, while the appeal remains pending, under subsequent committee review to determine that trading in Regis common stock should be suspended.\n\n\nNYSE Regulation has determined that Regis was unable to demonstrate that it had regained compliance with the applicable listing standard by the expiration of the maximum plan period. As previously disclosed, Regis had been deemed below compliance with the NYSE’s continued listing standard in Section 802.01B of the Listed Company Manual requiring listed companies to maintain either (i) at least $50 million in stockholders’ equity or (ii) at least $50 million in total market capitalization on a 30-trading day average basis.\n\n\nAbout Regis Corporation\n\n\nRegis Corporation (NYSE:RGS) is a leader in the haircare industry. As of September 30, 2023, the Company franchised or owned 4,811 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, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Relations section of the corporate website at www.regiscorp.com.\n\n\nThis 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...