F45 Training to delist from NYSE

F45 Training “announced its intention to voluntarily delist from the New York Stock Exchange and to deregister its common stock under Section 12(b) and Section 12(g) of the Securities Exchange Act of 1934, as amended, as well as suspend its reporting obligations under Section 15(d) of the Exchange Act. As previously disclosed, the Company received a notice from the NYSE that it is not currently in compliance with the continued listing standards of the NYSE because the Company is behind in its public filings and because the average closing price of the Company’s common stock was less than $1.00 per share over a consecutive 30 trading-day period. Since receipt of such notice, the Company’s common stock has generally continued to trade below $1.00 per share. In response, the Company has evaluated whether to remain listed or to go dark and has determined that going dark is the best path for the Company due to the expected substantial cost savings and the Company’s current inability to realize the traditional benefits of public company status. The Company’s continued low trading value, and the resulting low trading price, affects the Company’s ability to raise capital from the public markets, effectively use its securities as transaction consideration or attract interest from institutional investors or market analysts. Despite the lack of these benefits, the Company incurs all of the significant annual expenses and indirect costs associated with being a public company. As a result of going dark, the Company will no longer be obligated to pay these significant expenses and will experience substantial cost savings.”