System1 Receives Notice of Non-Compliance with New York Stock Exchange Trading Share Price Listing Rule
System1 (NYSE: SST) has received a notice from the New York Stock Exchange regarding non-compliance with listing standards, as its Class A Common Stock's average closing price fell below $1.00 over a consecutive 30 trading-day period. The company has until January 21, 2025 to cure this deficiency.
To regain compliance, System1 must achieve a closing share price of at least $1.00 and maintain an average closing share price of $1.00 over a 30 trading-day period by the end of any calendar month during the six-month cure period. The notice does not result in immediate delisting, and SST's stock will continue trading on the NYSE while the company works to address the issue.
System1 (NYSE: SST) ha ricevuto una comunicazione dalla New York Stock Exchange riguardo alla non conformità agli standard di quotazione, poiché il prezzo medio di chiusura delle sue azioni ordinarie di Classe A è sceso al di sotto di $1.00 per un periodo consecutivo di 30 giorni di trading. L'azienda ha tempo fino al 21 gennaio 2025 per rimediare a questa carenza.
Per ristabilire la conformità, System1 deve raggiungere un prezzo di chiusura delle azioni di almeno $1.00 e mantenere un prezzo medio di chiusura di $1.00 per un periodo di 30 giorni di trading entro la fine di qualsiasi mese durante il periodo di sei mesi per la correzione. La comunicazione non comporta un'immediata cancellazione dalla quotazione, e le azioni di SST continueranno a essere scambiate sulla NYSE mentre l'azienda lavora per affrontare la questione.
System1 (NYSE: SST) ha recibido un aviso de la Bolsa de Nueva York sobre el incumplimiento de los estándares de cotización, ya que el precio promedio de cierre de sus acciones ordinarias Clase A cayó por debajo de $1.00 durante un período consecutivo de 30 días de negociación. La empresa tiene hasta el 21 de enero de 2025 para subsanar esta deficiencia.
Para recuperar la conformidad, System1 debe lograr un precio de cierre de al menos $1.00 y mantener un precio promedio de cierre de $1.00 durante un período de 30 días de negociación antes del final de cualquier mes calendario durante el período de seis meses para la corrección. El aviso no resulta en una deslistada inmediata, y las acciones de SST continuarán negociándose en la NYSE mientras la empresa trabaja para abordar el problema.
System1 (NYSE: SST)는 뉴욕 증권 거래소로부터 상장 기준 미준수에 대한 통지를 받았습니다. 이는 클래스 A 보통주의 평균 종가가 연속 30 거래일 동안 $1.00 미만으로 떨어졌기 때문입니다. 회사는 2025년 1월 21일까지 이 결함을 수정해야 합니다.
준수를 회복하기 위해 System1은 최소한 $1.00의 종가를 달성하고, 6개월의 수정 기간 동안의 임의의 달의 마지막까지 30 거래일 동안 평균 종가가 $1.00 이상이어야 합니다. 이 통지는 즉각적인 상장 폐지를 초래하지 않으며, SST의 주식은 회사가 문제를 해결하기 위해 노력하는 동안 NYSE에서 계속 거래될 것입니다.
System1 (NYSE: SST) a reçu un avis de la Bourse de New York concernant le non-respect des normes de cotation, car le prix moyen de clôture de ses actions ordinaires de Classe A est tombé en dessous de 1,00 $ sur une période consécutive de 30 jours de bourse. L'entreprise a jusqu'au 21 janvier 2025 pour remédier à cette carence.
Pour retrouver la conformité, System1 doit atteindre un prix de clôture d'au moins 1,00 $ et maintenir un prix moyen de clôture d'au moins 1,00 $ sur une période de 30 jours de bourse d'ici la fin de n'importe quel mois calendaire pendant la période de réparation de six mois. L'avis ne conduit pas à une radiation immédiate, et les actions de SST continueront d'être échangées sur la NYSE pendant que l'entreprise s'emploie à résoudre le problème.
System1 (NYSE: SST) hat eine Mitteilung von der New Yorker Börse bezüglich der Nichteinhaltung der Börsenstandards erhalten, da der durchschnittliche Schlusskurs seiner Class A Stammaktien über einen aufeinanderfolgenden Zeitraum von 30 Handelstagen unter $1,00 gefallen ist. Das Unternehmen hat bis zum 21. Januar 2025 Zeit, um diesen Mangel zu beheben.
Um die Konformität wiederherzustellen, muss System1 einen Schlusskurs von mindestens $1,00 erreichen und einen durchschnittlichen Schlusskurs von $1,00 über einen Zeitraum von 30 Handelstagen bis zum Ende eines Kalendermonats während des sechmonatigen Heilungszeitraums aufrechterhalten. Die Mitteilung führt nicht zu einer sofortigen Delistung, und die Aktien von SST werden weiterhin an der NYSE gehandelt, während das Unternehmen an der Lösung des Problems arbeitet.
- Stock continues to trade on NYSE during compliance period
- Company has 6-month cure period to address price deficiency
- Stock trading below $1.00 average over 30-day period
- Risk of potential NYSE delisting if price compliance not achieved
- Company needs to implement measures to boost stock price
Insights
This NYSE non-compliance notice represents a critical juncture for System1, with the stock trading below
The six-month compliance window provides some breathing room, but the options for remediation are and potentially dilutive. Traditional solutions include reverse stock splits, which while mathematically solving the price issue, often signal distress to the market. With the January 21, 2025 deadline to notify NYSE of their remediation plan, management must act swiftly.
For context, companies receiving such notices historically face three common outcomes: 1) successful price recovery through business improvement, 2) implementation of a reverse split, or 3) eventual delisting. The company's ability to maintain NYSE listing standards is important for institutional investor access and market liquidity.
The delisting warning comes amid broader challenges in the ad-tech sector. System1's omnichannel customer acquisition platform operates in a highly competitive space where margins are under pressure from tech giants and changing privacy regulations. The sub-dollar stock price reflects deeper market skepticism about the company's business model and growth trajectory.
A concerning pattern emerges when examining market sentiment: micro-cap ad-tech companies struggling with profitability often face an uphill battle regaining investor confidence. The NYSE listing requirements serve as a quality control mechanism and this notice typically triggers institutional investors to reassess their positions, potentially leading to increased selling pressure.
Company Intends to Cure the Deficiency and Regain Compliance with NYSE
Notice Has No Immediate Impact on the Listing or Trading of System1’s Class A Common Stock
The Company plans to notify the NYSE by January 21, 2025 that it intends to cure the average closing stock price deficiency and to return to compliance with the NYSE's continued listing standards. The Company can regain compliance at any time within the six-month period following receipt of the NYSE's notice if on the last trading day of any calendar month during the cure period, the Company has (i) a closing share price of at least
The Company’s Common Stock will continue to be listed and trade on the NYSE during this period, subject to the Company’s ongoing compliance with the NYSE's other continued listing standards.
About System1, Inc.
System1 combines best-in-class technology & data science to operate its advanced Responsive Acquisition Marketing Platform (RAMP). System1’s RAMP is omnichannel and omnivertical, and built for a privacy-centric world. RAMP enables the building of powerful brands across multiple consumer verticals, the development & growth of a suite of privacy-focused products, and the delivery of high-intent customers to advertising partners. For more information, visit www.system1.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250110128980/en/
Investors:
Brett Milotte
ICR, Inc.
Brett.Milotte@icrinc.com
Source: System1, Inc.
FAQ
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