Amwell receives continued listing standard notice from NYSE

Amwell announced that it received a notice on April 2 from the NYSE informing the company that it is not in compliance with the NYSE’s continued listing minimum price criteria with respect to its Class A common stock because the average closing price of the company’s Class A common stock was less than $1 per share over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the company’s Class A common stock from the NYSE. NYSE rules give Amwell a six-month period to regain compliance with the minimum price criteria. The company has already confirmed to the NYSE its intent to cure the deficiency, including by effecting a reverse stock split, subject to board approval and stockholder approval at its upcoming 2024 annual meeting. Receipt of the NYSE notice does not affect Amwell’s business, operations or reporting requirements with the Securities and Exchange Commission. The company’s Class A common stock will continue to list and trade on the NYSE during the six-month cure period, subject to its compliance with other NYSE continued listing standards.