The Arena Group Holdings, Inc. announced on October 2, 2024, that it received a notification from the NYSE American regarding non-compliance with minimum stockholders' equity requirements. The company failed to meet Sections 1003(a)(i), 1003(a)(ii), and 1003(a)(iii) of the NYSE American Company Guide, which require stockholders' equity of $2.0 million, $4.0 million, and $6.0 million, respectively, based on reported losses.
The notification requires The Arena Group to submit a plan by November 1, 2024, outlining actions to regain compliance with the listing standards. The company has until April 2, 2026, to achieve this compliance.
The notice does not immediately affect the listing or trading of the company's common stock on the NYSE American. The Arena Group stated its intention to submit a plan to regain compliance.
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