KLR - Kaleyra receives NYSE notice on non-compliance

2023-04-06 08:35:24 ET

• Kaleyra ( NYSE: KLR ) said on Thursday that the omnichannel business communications platform has received an NYSE notice on non-compliance with the stock exchange's listing rules.
• The mobile communication services company's average market capitalization over a consecutive 30 trading-day period was less than $50M, and its last reported stockholders' equity was also less than $50M.
• The 30 trading-day average market capitalization was ~$31.5M, and its last reported stockholders' equity was $42.2M as of Dec. 31, 2022.
• Kaleyra has 45 days to submit a business plan to regain compliance.
• Additionally, the stock exchange has confirmed that the company has regained compliance with the rules surrounding average closing price.
• NYSE had notified the company on Nov. 7, 2022, that it was not in compliance with the listing rules as the average closing price of the company's shares were less than $1.00 per share over a consecutive 30 trading-day period.
• KLR shares were trading -1.17% pre-market.
• Source: Press Release

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