LightInTheBox Receives Non-compliance Letter from NYSE Regarding Market Capitalization
LightInTheBox (NYSE: LITB), a global online retailer specializing in proprietary apparel brands, has received a non-compliance notice from the NYSE on December 26, 2024. The notice indicates that LITB's average total market capitalization fell below $50 million over a 30 trading-day period, with stockholders' equity also below $50 million.
The company has 90 calendar days to submit a business plan demonstrating compliance within 18 months. If accepted, LITB's ADSs will continue trading on NYSE during this period, subject to semi-annual reviews. If rejected, delisting proceedings will begin. LITB notified NYSE on January 3, 2025, of its intention to remedy the deficiency.
The notice does not immediately impact LITB's listing status, and the company maintains compliance with all other NYSE listing standards. Regular business operations and SEC reporting requirements remain unaffected.
LightInTheBox (NYSE: LITB), un rivenditore online globale specializzato in marchi di abbigliamento proprietari, ha ricevuto una comunicazione di non conformità dalla NYSE il 26 dicembre 2024. La comunicazione indica che la capitalizzazione di mercato totale media di LITB è scesa al di sotto di 50 milioni di dollari in un periodo di 30 giorni di negoziazione, con il capitale degli azionisti anch'esso al di sotto dei 50 milioni di dollari.
L'azienda ha 90 giorni di calendario per presentare un piano aziendale che dimostri la conformità entro 18 mesi. Se accettato, le ADS di LITB continueranno a essere scambiate sulla NYSE durante questo periodo, soggette a revisioni semestrali. Se rifiutato, inizieranno le procedure di delisting. LITB ha informato la NYSE il 3 gennaio 2025 della sua intenzione di porre rimedio alla carenza.
La comunicazione non impatta immediatamente lo stato di quotazione di LITB, e l'azienda mantiene la conformità con tutti gli altri standard di quotazione della NYSE. Le normali operazioni aziendali e i requisiti di reporting alla SEC rimangono inalterati.
LightInTheBox (NYSE: LITB), un minorista en línea global especializado en marcas de ropa propias, ha recibido un aviso de incumplimiento de la NYSE el 26 de diciembre de 2024. El aviso indica que la capitalización de mercado total promedio de LITB cayó por debajo de los 50 millones de dólares en un período de 30 días de negociación, con el capital social de los accionistas también por debajo de los 50 millones de dólares.
La empresa tiene 90 días calendario para presentar un plan de negocio que demuestre el cumplimiento dentro de 18 meses. Si se acepta, las ADS de LITB continuarán negociándose en la NYSE durante este período, sujeto a revisiones semestrales. Si se rechaza, comenzarán los procedimientos de exclusión. LITB notificó a la NYSE el 3 de enero de 2025, sobre su intención de remediar la deficiencia.
El aviso no afecta inmediatamente el estado de cotización de LITB, y la empresa mantiene el cumplimiento con todos los demás estándares de cotización de la NYSE. Las operaciones comerciales regulares y los requisitos de informes a la SEC permanecen sin cambios.
라이트인더박스 (NYSE: LITB)는 독자적인 의류 브랜드를 전문으로 하는 글로벌 온라인 소매업체로, 2024년 12월 26일 뉴욕증권거래소(NYSE)로부터 비준수 통지를 받았습니다. 이 통지는 LITB의 평균 총 시장 자본이 30일 거래 기간 동안 5천만 달러 이하로 감소했으며, 주주 자본도 5천만 달러 이하임을 나타냅니다.
회사는 18개월 이내에 준수를 입증하는 사업 계획서를 제출할 수 있는 90일의 기간이 있습니다. 만약 승인된다면, LITB의 ADS는 승인 기간 동안 NYSE에서 계속 거래됩니다. 반대로 거부될 경우 상장 폐지 절차가 시작됩니다. LITB는 2025년 1월 3일 자사의 결함을 해결할 의사를 NYSE에 통보했습니다.
이 통지는 LITB의 상장 상태에 즉각적인 영향을 미치지 않으며, 회사는 NYSE의 다른 모든 상장 기준을 준수하고 있습니다. 일반적인 비즈니스 운영과 SEC 보고 요건은 영향을 받지 않습니다.
LightInTheBox (NYSE: LITB), un détaillant en ligne mondial spécialisé dans des marques de vêtements propriétaires, a reçu un avis de non-conformité de la NYSE le 26 décembre 2024. L'avis indique que la capitalisation boursière totale moyenne de LITB est tombée en dessous de 50 millions de dollars sur une période de 30 jours de négociation, avec des fonds propres des actionnaires également en dessous de 50 millions de dollars.
L'entreprise a 90 jours calendaires pour soumettre un plan d'affaires démontrant la conformité dans un délai de 18 mois. Si accepté, les ADS de LITB continueront à être négociées sur la NYSE pendant cette période, sous réserve de révisions semestrielles. En cas de rejet, les procédures de radiation commenceront. LITB a informé la NYSE le 3 janvier 2025 de son intention de remédier à la situation.
L'avis n'affecte pas immédiatement le statut de cotation de LITB et l'entreprise respecte tous les autres standards de cotation de la NYSE. Les opérations commerciales normales et les exigences de rapport à la SEC restent inchangées.
LightInTheBox (NYSE: LITB), ein globaler Online-Händler, der sich auf eigene Bekleidungsmarken spezialisiert hat, erhielt am 26. Dezember 2024 eine Mitteilung über die Nichterfüllung von der NYSE. In der Mitteilung wird angegeben, dass die durchschnittliche Gesamtmarktkapitalisierung von LITB in einem Zeitraum von 30 Handelstagen unter 50 Millionen Dollar gefallen ist, wobei das Eigenkapital der Aktionäre ebenfalls unter 50 Millionen Dollar liegt.
Das Unternehmen hat 90 Kalendertage Zeit, um einen Geschäftsplan vorzulegen, der die Einhaltung innerhalb von 18 Monaten nachweist. Bei Annahme werden die ADS von LITB während dieses Zeitraums an der NYSE weiter gehandelt, unterliegt jedoch halbjährlichen Überprüfungen. Bei Ablehnung beginnen die Delisting-Verfahren. LITB hat die NYSE am 3. Januar 2025 über seine Absicht informiert, den Mangel zu beheben.
Die Mitteilung hat keinen sofortigen Einfluss auf den Status der LITB-Notierung, und das Unternehmen erfüllt alle anderen Anforderungen der NYSE. Die regulären Geschäftsaktivitäten und die Anforderungen an die SEC-Berichterstattung bleiben unbeeinträchtigt.
- Company remains compliant with all other NYSE listing standards
- Business operations and SEC reporting requirements unaffected
- 90-day window to submit compliance plan
- Market capitalization below $50 million threshold
- Stockholders' equity below $50 million requirement
- Risk of potential NYSE delisting if business plan not accepted
- 18-month compliance period required if plan accepted
Insights
The NYSE non-compliance notice to LightInTheBox represents a serious regulatory challenge that warrants immediate investor attention. The company has fallen below two critical thresholds: the $50 million market capitalization requirement and the stockholders' equity minimum, triggering Section 802.01B of the NYSE Listed Company Manual.
The compliance timeline is structured in two critical phases:
- A 90-day window to submit a viable business plan
- If accepted, an 18-month period to achieve compliance, subject to semi-annual reviews
The immediate risk of delisting is mitigated by the regulatory process, but investors should carefully evaluate several factors:
- The company's current market cap of
$25.7 million requires nearly a100% increase to meet compliance - The dual failure of both market cap and equity requirements suggests fundamental business challenges rather than just market volatility
- Historical precedent shows that small-cap retailers face significant hurdles in executing successful turnaround plans within the 18-month window
While management states they're evaluating options, typical remediation strategies could include:
- Strategic equity raises, though these often lead to significant dilution
- Asset sales or business restructuring
- Strategic partnerships or potential M&A activity
The next 90 days are important as the NYSE's acceptance of the business plan is not guaranteed. Even if accepted, the semi-annual reviews create additional compliance checkpoints that could accelerate delisting if progress is insufficient. Investors should monitor the company's remediation plan details when announced, as these will provide important insights into the viability of the compliance strategy.
The Company intends to take steps to remedy the deficiency in a timely manner. The Company notified the NYSE on January 3, 2025 of its intention to cure such deficiency. In accordance with NYSE listing requirements, the Company has 90 calendar days from the receipt of the Notice to respond with a business plan that demonstrates compliance with this continued listing standard within 18 months of receipt of the Notice. The NYSE will review the Company's business plan and make a determination as to whether the Company has made a reasonable demonstration of its ability to come into conformity with Section 802.01B within 18 months. If the NYSE accepts the business plan, the Company's ADSs will continue to be listed and traded on the NYSE during the 18-month period, subject semi-annual review by the NYSE of the Company's compliance with such business plan. If the Company's business plan is not accepted, the NYSE will initiate delisting proceedings. The Company is currently evaluating its available options and developing a plan to regain compliance with Section 802.01B.
The Notice has no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE, subject to compliance with other continued listing requirements of the NYSE. The Company is currently 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.
About LightInTheBox Holding Co., Ltd.
LightInTheBox is a global online retail company, providing a diverse range of affordable lifestyle products directly to consumers worldwide since 2007. In 2024, the Company shifted its focus to apparel design and launched its first proprietary brand, Ador.com, to meet the growing global demand for accessible higher-end fashion. Ador.com specializes in designer-quality clothing for women aged 35-55 at competitive prices and operates design studios and sample shops in both the
For more information, please visit https://ir.ador.com.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the
LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the SEC, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: LightInTheBox's goals and strategies; LightInTheBox's future business development, results of operations and financial condition; the expected growth of the global online retail market; LightInTheBox's ability to attract customers and further enhance customer experience and product offerings; LightInTheBox's ability to strengthen its supply chain efficiency and optimize its logistics network; LightInTheBox's expectations regarding demand for and market acceptance of its products; competition; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in LightInTheBox's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and LightInTheBox does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@ador.com
Jenny Cai
Piacente Financial Communications
Email: ador@tpg-ir.com
Brandi Piacente
Piacente Financial Communications
Tel: +1-212-481-2050
Email: ador@tpg-ir.com
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SOURCE LightInTheBox Holding Co., Ltd.
FAQ
What NYSE requirements did LightInTheBox (LITB) fail to meet in December 2024?
What is the deadline for LITB to submit a compliance plan to NYSE?
Will LITB be immediately delisted from NYSE due to the non-compliance notice?
How long does LITB have to regain compliance with NYSE requirements?
Does the NYSE non-compliance notice affect LITB's business operations?
