The Beachbody Company, Inc. (BODi) announced it received a notice from the New York Stock Exchange (NYSE) regarding non-compliance with continued listing standards. The notice indicates that BODi did not meet the requirement of having an average market capitalization of at least $50.0 million over a consecutive 30 trading-day period.
Additionally, the company was found to be non-compliant with the NYSE standard requiring stockholders’ equity of not less than $50.0 million. This notice triggers a requirement for BODi to submit a business plan to the NYSE within 45 days.
The business plan must demonstrate how the company expects to regain compliance with these listing standards within 18 months of receiving the notice. While the notice does not immediately affect the listing of BODi's securities, it highlights a significant challenge for the company to address.
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