Rubicon Technologies receives noncompliance notice from NYSE

Rubicon Technologies announced that it received a notice from the NYSE informing the company that it is no longer in compliance with Sections 802.01B and 802.01C of the NYSE Listed Company Manual. The company was notified by the NYSE that it was not in compliance with Section 802.01B because it had an average global market capitalization, over a consecutive 30 trading-day period, that is less than $50,000,000 and, at the same time, its stockholders’ equity is less than $50,000,000. The company was concurrently notified by the NYSE that it was also not in compliance with Section 802.01C because the average closing price of the company’s Class A common stock was less than $1.00 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. The company plans to notify the NYSE by no later than April 1 that it intends to cure the deficiencies and return to compliance with the NYSE continued listing standard.