Party City Regains Compliance with NYSE Continued Listing Standards
Party City Holdco Inc. (PRTY) announced it has regained compliance with NYSE listing standards after its stock price exceeded $1.00 for a consecutive 30-day period. Previously, the company was notified on April 9, 2020, of non-compliance due to its average closing price being below this threshold. CEO Brad Weston expressed satisfaction with regaining compliance, emphasizing their focus on strategic plans to strengthen financial stability and enhance Party City's market position in celebration supplies.
- Regained compliance with NYSE listing standards, removing the '.BC' indicator from PRTY.
- Share price exceeded $1.00 for the required 30-day period.
- Initial non-compliance notice received due to average stock price being below $1.00.
ELMSFORD, N.Y., July 07, 2020 (GLOBE NEWSWIRE) -- Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced that it received written notification from the New York Stock Exchange (the “NYSE”) that it has regained compliance with the NYSE continued listing standards.
Brad Weston, Chief Executive Officer, stated, “We are pleased to have regained compliance with all NYSE listing requirements. We remain focused on our strategic plan, including initiatives underway to support our financial strength and establish Party City as the destination of choice for all things celebration.”
As previously disclosed, on April 9, 2020, the Company received formal notice from the NYSE that it was not in compliance with the NYSE's continued listing standards as a result of the average closing price of the Company's common stock being less than
The Company regained compliance after its closing share price on June 30, 2020 and its average closing share price for the 30 trading-day period ending June 30, 2020 both exceeded
About Party City
Party City Holdco Inc. is the leading party goods company by revenue in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue. The Company is a popular one-stop shopping destination for party supplies, balloons, and costumes. In addition to being a great retail brand, the Company is a global, world-class organization that combines state-of-the-art manufacturing and sourcing operations, and sophisticated wholesale operations complemented by a multi-channel retailing strategy and e-commerce retail operations. The Company is the leading player in its category, vertically integrated and unique in its breadth and depth. The Company designs, manufactures, sources and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Company’s retail operations include approximately 850 specialty retail party supply stores (including franchise stores) throughout North America operating under the names Party City and Halloween City, and e-commerce websites, principally through the domain name www.partycity.com.
Contacts:
Investor Relations
ICR
Farah Soi and Rachel Schacter
203-682-8200
InvestorRelations@partycity.com
Media Relations
ICR
Brittany Fraser
203-682-8200
PartyCityPR@partycity.com
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