Express discloses NYSE listing compliance notice

Express "announced that the NYSE has notified the Company that it is no longer in compliance with the NYSE’s continued listing minimum price criteria set forth in Section 802.01C of the NYSE’s Listed Company Manual, which requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. The Company received written notice of the non-compliance on March 28, 2023. In accordance with NYSE rules, the Company has a period of six months from receipt of the notice to regain compliance with the NYSE’s continued listing minimum price criteria. The notice has no immediate impact on the listing of the Company’s common stock, which will remain listed and traded on the NYSE during this period, subject to the Company’s compliance with the other continued listing requirements of the NYSE. Under NYSE rules, the Company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the Company’s common stock has (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 that month. In accordance with the NYSE’s rules, the Company plans to formally notify the NYSE of its intent to cure the deficiency, which may include, if necessary, effecting a reverse stock split, subject to Board and stockholder approval."