FREMONT, Calif.--(BUSINESS WIRE)-- Tailored Brands, Inc. (NYSE:TLRD) today announced that it received notification from the New York Stock Exchange (“NYSE”) on July 22, 2020 that the Company is no longer in compliance with the NYSE continued listing criteria that requires listed companies to maintain a 30-trading day average market capitalization of $50 million coupled with stockholders’ equity of at least $50 million and an average closing share price of at least $1.00 over a consecutive 30 trading-day period.
The NYSE notification does not affect the Company’s business operations or its Securities and Exchange Commission reporting requirements, nor does it trigger a breach under the Company’s material debt obligations.
In accordance with the NYSE rules, within ten business days from receipt of the notice the Company intends to confirm to the NYSE receipt of the notice and the Company’s intent to cure the deficiencies and return to compliance with NYSE continued listing requirements. Under NYSE rules, the Company may cure the deficiencies and regain compliance during the 18-month period following receipt of the notice. The Company’s common stock will continue to be listed and trade on the NYSE during this period, subject to the Company’s compliance with other NYSE continued listing requirements. If the Company fails to regain compliance during the cure period, its common stock will be subject to the NYSE’s suspension and delisting procedures.