The New York Stock Exchange sent Nautilus, Inc. a Notice on September 21 that the company is no longer in compliance with the NYSE’s listing requirements because the company’s average closing price was less than $1.00 per share over a consecutive 30 trading-day period.
Nautilus said the Notice did not result in the immediate delisting of its common stock from the NYSE.
Nautilus reported it intends to respond to the NYSE within ten business days of receipt of its Notice of intent to cure the deficiency.
Per NYSE rules, Nautilus has six months after receiving the Notice to regain compliance with its minimum share price requirement. The company could regain compliance at any time within the six-month cure period if, on the last trading day of any calendar month during the cure period, Nautilus has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.
Shares of Nautilus closed unchanged Wednesday at $0.70 per share. The stock’s 52-week range is between $0.67 and $2.17.
Nautilus brands include Bowflex, Nautilus, Schwinn, and JRNY, its digital fitness platform.
Photo courtesy NYSE
