Chegg, Inc. announced on April 1, 2025, that it received a notification from the New York Stock Exchange (NYSE) regarding non-compliance with Section 802.01C of the NYSE Listed Company Manual. This is because the average closing share price of the company’s common stock was less than $1.00 over a consecutive 30 trading-day period as of March 31, 2025.
The company intends to notify the NYSE of its plan to regain compliance, which may include, if necessary, effecting a reverse stock split, subject to board and stockholder approval. Chegg has a six-month period to regain compliance.
The notice does not immediately impact the listing of Chegg’s common stock, which will continue to trade on the NYSE during the cure period. However, failure to regain compliance could lead to suspension and delisting procedures.
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