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Revlon Announces New York Stock Exchange’s Decision to Delist Its Common Stock
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Revlon, Inc. (NYSE: REV) announced that its appeal against the NYSE Staff's decision to delist its Class A common stock has been rejected. This follows the Chapter 11 filing on June 15, 2022. The NYSE has suspended trading in Revlon’s Class A stock, which is expected to be delisted and trade on the OTC marketplace/pink sheets soon. Investors can find more information about the Chapter 11 process on the company's restructuring website.
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Delisting of Class A common stock from NYSE due to Chapter 11 filing.
Suspension of trading for Revlon's Class A common stock.
NEW YORK--(BUSINESS WIRE)--
Revlon, Inc. (NYSE: REV) (“Revlon” or the “Company”) today announced that on October 20, 2022, the NYSE Regulatory Oversight Committee’s Committee for Review rejected the Company's appeal and affirmed the New York Stock Exchange Staff's (“NYSE Staff”) decision to delist the Company's Class A common stock following the June 15, 2022 Chapter 11 filing by the Company and certain of its subsidiaries in the U.S. Bankruptcy Court for the Southern District of New York. Accordingly, the Company expects the NYSE Staff to make an application to the Securities and Exchange Commission (“SEC”) to delist the Company's Class A common stock in the near future. In the meantime, the NYSE has suspended trading in Revlon’s Class A common stock. The Company’s Class A common stock is expected to trade on the OTC marketplace/pink sheets following the delisting.
Additional information, including court filings and other documents, related to the court-supervised Chapter 11 process, is available on the Company’s restructuring website at https://cases.ra.kroll.com/Revlon, by emailing revloninfo@ra.kroll.com or by calling (855) 631-5341 (toll free) or (646) 795-6968 (international).
About Revlon, Inc.
Revlon has developed a long-standing reputation as a color authority and beauty trendsetter in the world of color cosmetics and hair care. Since its breakthrough launch of the first opaque nail enamel in 1932, Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden company and its portfolio of brands, including its leading designer, heritage and celebrity fragrances. Today, Revlon's diversified portfolio of brands is sold in approximately 150 countries around the world in most retail distribution channels, including prestige, salon, mass, and online. Revlon is among the leading global beauty companies, with some of the world’s most iconic and desired brands and product offerings in color cosmetics, skin care, hair color, hair care and fragrances under brands such as Revlon, Revlon Professional, Elizabeth Arden, Almay, Mitchum, CND, American Crew, Creme of Nature, Cutex, Juicy Couture, Elizabeth Taylor, Britney Spears, Curve, John Varvatos, Christina Aguilera and AllSaints.
Forward-Looking Statements
This press release contains forward-looking statements. These statements constitute "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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates", and include the timing of the Company's delisting from the NYSE and similar statements. Further information regarding these and other risks is included in Revlon's filings with the SEC, including its annual report on Form 10-K and quarterly reports on Form 10-Q. Revlon does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
What happened to Revlon's stock on October 20, 2022?
On October 20, 2022, Revlon's appeal against its delisting from the NYSE was rejected, leading to the suspension of trading for its Class A common stock.
What is the future of Revlon's Class A common stock?
Revlon's Class A common stock is expected to be delisted from the NYSE and will trade on the OTC marketplace/pink sheets.
Why did Revlon enter Chapter 11 bankruptcy?
Revlon filed for Chapter 11 bankruptcy on June 15, 2022, due to financial struggles, which ultimately led to the decision to delist its stock.
Where can I find more information on Revlon's restructuring process?
Additional information about Revlon's Chapter 11 process can be found on their restructuring website.
