BowFlex, Inc. received a written notice from the New York Stock Exchange (NYSE) that the company does not comply with its Continued Listing Standards, which requires it to maintain an average global market capitalization of at least $50.0 million over a consecutive 30-day trading period and a total stockholders’ equity equal to or greater than $50.0 million.
The company plans to notify the NYSE by December 11, 2023 of its receipt of the Notice and that it intends to submit a plan to cure the global market capitalization listing standard deficiency.The NYSE provides 45 days from receipt of the Notice to submit a plan advising the NYSE of definitive actions the company has taken, or is taking, that would bring it into compliance with the Market Capitalization Listing Standard within 18 months of receipt of the Notice.
The Notice does not affect BowFlex’s business operations or reporting obligations with the Securities and Exchange Commission.
The fitness equipment maker’s brands include Bowflex, Schwinn and JRNY, its digital fitness platform.
