Regis Announces Appeal of NYSE Determination to Commence Proceedings to Delist Regis’ Common Stock
December 28 2023 - 4:05PM
Business Wire
Regis Corporation (NYSE: RGS), a leader in the haircare
industry, today announced that it has requested an oral hearing of
the NYSE’s decision to commence proceedings to delist Regis’ common
stock from the New York Stock Exchange (“NYSE”).
Regis looks forward to presenting its plan of compliance at the
hearing, and in the interim, will continue to evaluate all
available listing options.
During this time, Regis common stock has not been suspended from
trading and is expected to continue to be listed and traded on the
NYSE while any such appeal remains pending. However, the NYSE
reserves the right, while the appeal remains pending, under
subsequent committee review to determine that trading in Regis
common stock should be suspended.
NYSE Regulation has determined that Regis was unable to
demonstrate that it had regained compliance with the applicable
listing standard by the expiration of the maximum plan period. As
previously disclosed, Regis had been deemed below compliance with
the NYSE’s continued listing standard in Section 802.01B of the
Listed Company Manual requiring listed companies to maintain either
(i) at least $50 million in stockholders’ equity or (ii) at least
$50 million in total market capitalization on a 30-trading day
average basis.
About Regis Corporation
Regis Corporation (NYSE:RGS) is a leader in the haircare
industry. As of September 30, 2023, the Company franchised or owned
4,811 locations. Regis’ franchised and corporate locations operate
under concepts such as Supercuts®, SmartStyle®, Cost Cutters®,
Roosters® and First Choice Haircutters®. For additional information
about the Company, including a reconciliation of certain non-GAAP
financial information and certain supplemental financial
information, please visit the Investor Relations section of the
corporate website at www.regiscorp.com.
This release contains or may contain “forward-looking
statements” within the meaning of the federal securities laws,
including statements concerning anticipated future events and
expectations that are not historical facts. These forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements in this document reflect management’s
best judgment at the time they are made, but all such statements
are subject to numerous risks and uncertainties, which could cause
actual results to differ materially from those expressed in or
implied by the statements herein. Such forward-looking statements
are often identified herein by use of words including, but not
limited to, “may,” “believe,” “project,” “forecast,” “expect,”
“estimate,” “anticipate,” “intend,” “looks forward to” and “plan.”
In addition, the following factors could affect the Company’s
actual results and cause such results to differ materially from
those expressed in forward-looking statements. These factors
include our ability to comply with applicable national stock
exchange listing requirements, potential timing and outcomes of
suspension and delisting procedures and future trading or quotation
of our common stock, and other potential factors that could affect
future financial and operating results as set forth under Item 1A
of our Form 10-K. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. However, your attention is
directed to any further disclosures made in our subsequent annual
and periodic reports filed or furnished with the Securities and
Exchange Commission on Forms 10-K, 10-Q and 8-K and Proxy
Statements on Schedule 14A.
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version on businesswire.com: https://www.businesswire.com/news/home/20231228790845/en/
REGIS CORPORATION: Kersten Zupfer
investorrelations@regiscorp.com
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