Party City Regains Compliance with NYSE Continued Listing Standards
July 07 2020 - 5:00PM
Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today
announced that it received written notification from the New York
Stock Exchange (the “NYSE”) that it has regained compliance with
the NYSE continued listing standards.
Brad Weston, Chief Executive Officer, stated, “We are pleased to
have regained compliance with all NYSE listing requirements. We
remain focused on our strategic plan, including initiatives
underway to support our financial strength and establish Party City
as the destination of choice for all things celebration.”
As previously disclosed, on April 9, 2020, the Company received
formal notice from the NYSE that it was not in compliance with the
NYSE's continued listing standards as a result of the average
closing price of the Company's common stock being less than $1.00
per share over a consecutive 30 trading-day period.
The Company regained compliance after its closing share price on
June 30, 2020 and its average closing share price for the 30
trading-day period ending June 30, 2020 both exceeded $1.00.
Accordingly, the Company has resumed compliance under the NYSE
continued listing standards and the “.BC” indicator following the
Company’s symbol “PRTY” will be removed by the NYSE.
About Party City Party City Holdco Inc. is the
leading party goods company by revenue in North America and, we
believe, the largest vertically integrated supplier of decorated
party goods globally by revenue. The Company is a popular one-stop
shopping destination for party supplies, balloons, and costumes. In
addition to being a great retail brand, the Company is a global,
world-class organization that combines state-of-the-art
manufacturing and sourcing operations, and sophisticated wholesale
operations complemented by a multi-channel retailing strategy and
e-commerce retail operations. The Company is the leading player in
its category, vertically integrated and unique in its breadth and
depth. The Company designs, manufactures, sources and
distributes party goods, including paper and plastic tableware,
metallic and latex balloons, Halloween and other costumes,
accessories, novelties, gifts and stationery throughout the world.
The Company’s retail operations include approximately 850 specialty
retail party supply stores (including franchise stores) throughout
North America operating under the names Party City and Halloween
City, and e-commerce websites, principally through the domain name
www.partycity.com.
Contacts:
Investor RelationsICR Farah Soi and Rachel Schacter
203-682-8200InvestorRelations@partycity.com
Media RelationsICRBrittany
Fraser203-682-8200PartyCityPR@partycity.com
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