Allurion Technologies receives continued listing standards notice from NYSE

Allurion Technologies announced that it received written notice from the New York Stock Exchange that it is not in compliance with the NYSE’s continued listing standards because the average closing price of the company’s common stock per the Notice was less than $1.00 per share over the consecutive 30 trading-day period ended August 8, 2024. The Notice does not result in the immediate delisting of the company’s common stock from the NYSE. In accordance with applicable NYSE rules, the company plans to timely notify the NYSE that it intends to cure the stock price deficiency and return to compliance with the applicable NYSE continued listing standards. The company can regain compliance at any time within a six-month cure period following its receipt of the Notice if, on the last trading day of any calendar month during such cure period, the company has both: (i) a closing share price of at least $1.00 and (ii) an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of the applicable calendar month. The company intends to remain listed on the NYSE and is considering all available options to regain compliance with the NYSE’s continued listing standards, including, but not limited to, a reverse stock split, subject to stockholder approval. The NYSE rules provide for an extension to the six-month cure period if the action required to cure the price condition requires stockholder approval, in which case, the action needs to be approved by no later than the company’s next annual stockholder’s meeting and implemented promptly thereafter.