TAMPA, FLA. — Better Choice Company, Inc., received a notice on Sept. 21 from the NYSE American LLC, claiming that the company is not in compliance with listing standards set by the NYSE American’s Company Guide.
According to the notice, Better Choice’s common stock has been trading at a low price per share for a “substantial” period of time, meaning the company is not in compliance with Section 1003(f)(v) of the NYSE American’s Company Guide. NYSE American may delist Better Choice, or accelerate delisting action, if the company’s stock fails to demonstrate sustained improvements by March 21, 2024.
Better Choice’s stock has seen a gradual decline during the past year, dropping 86.66%. According to Better Choice, it will aim to regain compliance with the NYSE American’s listing standards by “undertaking a measure or measures that are considered necessary and in the best interests of the company and its shareholders.”
Though the notice does not have an immediate effect on the trading of Better Choice’s common stock, its trading symbol BTTR will include a new designation of BC to show that the company is no longer in compliance.
“The company’s receipt of the notice does not affect the company’s business, operations or reporting requirements with the Securities and Exchange Commission,” Better Choice released in a statement. “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 time period indicated.”
The notice follows many recent highs and lows for Better Choice. The company is currently exploring opportunities for its CBD brand Bona Vida, received a significant investment from Alphia, appointed a new chief financial officer, and shared plans to get its business back on track.
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