Polished.com Inc. Announces Notification of NYSE American Continued Listing Deficiency
September 15 2023 - 4:05PM
Business Wire
Polished.com Inc. (the “Company” or “Polished”) (NYSE American:
POL) today announced that it had received a deficiency letter (the
“Letter”) from the NYSE American LLC (the “NYSE American”) stating
that the Company is not in compliance with the continued listing
standards as set forth in Section 1003(f)(v) of the NYSE American
Company Guide (the “Company Guide”).
The Letter stated that because the Company’s common stock had
been trading for a low price per share for a substantial period of
time, the Company was not in compliance with Section 1003(f)(v) of
the Company Guide. The NYSE American staff determined that the
Company’s continued listing is predicated on it effecting a reverse
stock split of its common stock or otherwise demonstrating
sustained price improvement within a reasonable period of time,
which the staff determined to be until March 13, 2024. The Company
intends to regain compliance with the NYSE American’s continued
listing standards by undertaking a measure or measures that are in
the best interests of the Company and its stockholders.
The Letter has no immediate effect on the listing or trading of
the Company’s common stock and the Company’s common stock will
continue to trade on the NYSE American under the symbol “POL”.
Additionally, the Letter does not result in the immediate delisting
of the Company’s common stock from the NYSE American. The Company’s
receipt of the Letter does not affect the Company’s business,
operations or reporting requirements with the Securities and
Exchange Commission. The Company is actively engaged in discussions
with the NYSE American and is developing plans to regain compliance
with the NYSE American’s continued listing standards within the
cure period.
About Polished.com Inc.
Polished is raising the bar, delivering a world-class,
white-glove shopping experience for home appliances. From the best
product selections from top brands to exceptional customer service,
we are simplifying the purchasing process and empowering consumers
as we provide a polished experience, from inspiration to
installation. A product expert helps customers get inspired and
imagine the space they want, then shares fresh ideas, unbiased
recommendations and excellent deals to suit the project’s budget
and style. The goal is peace of mind when it comes to new
appliances. Polished perks include its “Love-It-Or-Return-It”
30-day policy, extended warranties, the ability to arrange for
delivery and installation at your convenience and other special
offers. Learn more at www.Polished.com.
Forward-Looking Statements
This press release contains “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
“will”, “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on the Company’s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. You should not
place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company’s control and which
could materially affect results. Factors that may cause actual
results to differ materially from current expectations include,
among other things, those described more fully in the section
titled “Risk Factors” of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2022 and the Company’s other
reports filed with the Securities and Exchange Commission.
Forward-looking statements contained in this press release are made
as of this date, and the Company undertakes no duty to update such
information except as required under applicable law.
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Investor Relations ir@polished.com
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