Nautilus receives non-compliance notice from NYSE

Nautilus announced that on September 21, 2023, it received notice from the New York Stock Exchange that the company is not in compliance with applicable price criteria in the NYSE’s continued listing standard set forth in the NYSE Listed Company Manual 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. The Notice does not result in the immediate delisting of the company’s common stock from the NYSE. The company intends to respond to the NYSE within ten business days of receipt of the Notice of its intent to cure the deficiency. In accordance with NYSE rules, Nautilus has a period of six months following the receipt of the Notice to regain compliance with the minimum share price requirement. The company may regain compliance at any time within the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least $1.00 and 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. Under the NYSE’s rules, if the company determines that it will cure the stock price deficiency by taking an action that will require shareholder approval at its next annual meeting of shareholders, the price condition will be deemed cured if the price promptly exceeds $1.00 per share, and the price remains above that level for at least the following 30 trading days.