DPW Holdings Announces Acceptance of Plan by NYSE

Rhea-AI Summary

DPW Holdings, Inc. (NYSE American: DPW) announced on October 8, 2020, that the NYSE granted them a listing extension until January 24, 2022. This decision was based on the Company's plan to regain compliance with NYSE Listing Standards, specifically aimed at achieving over $6.0 million in stockholders' equity. During this extension period, the Company will undergo periodic reviews by NYSE. Failure to comply with the listing standards by the deadline may lead to delisting from the exchange.

Positive

• Company granted listing extension until January 24, 2022.
• Demonstrated a plan to regain compliance with NYSE Listing Standards.

Negative

• Failure to achieve stockholders' equity of $6.0 million may lead to delisting.

NEWPORT BEACH, Calif., Oct. 12, 2020 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that on October 8, 2020, the NYSE American, LLC (the “NYSE”) notified the Company that it has been granted a listing extension until January 24, 2022 on the basis of the plan recently submitted by the Company to regain compliance with the NYSE American Company Guide (the “Listing Standards”). Specifically, the Company has demonstrated how it intends to regain compliance with Sections 1003(a)(ii) and (iii) of the Listing Standards by having stockholders’ equity be $6.0 million or more. The Company will be subject to periodic review by NYSE during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued Listing Standards by the end of the extension period could result in the Company being delisted from the NYSE.

For more information on DPW Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.DPWHoldings.com or available at www.sec.gov.

About DPW Holdings, Inc.

DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW’s headquarters are located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.

Forward-Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.

Contacts:
IR@DPWHoldings.com or 1-888-753-2235

FAQ

What was the recent announcement about DPW Holdings on October 8, 2020?

DPW Holdings announced it received a listing extension from the NYSE until January 24, 2022, to comply with stockholders' equity requirements.

What does DPW Holdings need to achieve to maintain its NYSE listing?

DPW Holdings needs to demonstrate stockholders' equity of $6.0 million or more to comply with NYSE Listing Standards.

What could happen if DPW Holdings fails to meet the NYSE requirements?

Failure to meet the NYSE requirements could result in delisting from the exchange.

How often will DPW Holdings be reviewed by the NYSE during the extension period?

DPW Holdings will be subject to periodic reviews by the NYSE during the extension period.