Solo Brands receives noncompliance warning from NYSE [Yahoo! Finance]
Solo Brands, Inc. Class A (DTC)
Company Research
Source: Yahoo! Finance
Dive Brief: Solo Brands, owner of Chubbies and Solo Stove, received a noncompliance notice from the New York Stock Exchange, the company said in a Thursday press release. The NYSE issued the notice because the company's Class A common stock fell below $1.00 per share over a consecutive 30-day trading period. The company has six months to bring its share price into compliance with the minimum share price requirement. Its stock will remain available on the market during that period. Dive Insight: With an imminent leadership change and falling sales, Solo Brands' latest challenge is a potential stock exchange delisting. However, the NYSE's notice does not impact Solo Brands' business operations and doesn't trigger any violation of its debt obligations, the company said. Solo Brands can regain compliance if its Class A stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over a 30 trading-day period. The company may enact a re
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