The Beachbody Company Receives NYSE Notice as Market Cap Falls Sits $50M

The Beachbody Company, Inc. has reported it received notice (Notice) from the New York Stock Exchange (NYSE) that it is not currently in compliance with the requirement of Section 802.01B of the New York Stock Exchange Listed Company Manual and that the company have an average market capitalization of not less than $50.0 million over a consecutive 30 trading-day period and stockholders’ equity of not less than $50.0 million.

Under the NYSE Notice, The Beachbody Company, Inc. is subject to the procedures set forth in Sections 801 and 802 of the NYSE Manual and must submit a business plan within 45 days of receipt of the NYSE Notice that demonstrates how the company expects to return to compliance with this continued listing standard within 18 months of receipt of the NYSE Notice.

Beachbody said the Notice and accompanying procedures have no effect on the listing of the company’s securities at this time, subject to the company’s compliance with other continued listing requirements.

The company said it does intend to submit a plan to regain compliance as required by the rules of the NYSE and as set forth in the NYSE Notice.

Image courtesy New York Stock Exchange