The Arena Group Holdings, Inc. (NYSE American: AREN) has received a notification from the NYSE American on October 2, 2024, stating that the company is not in compliance with the minimum stockholders’ equity requirements. The company has until November 1, 2024, to submit a plan to regain compliance by April 2, 2026.
The non-compliance relates to 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, depending on the company’s reported losses in recent fiscal years.
The notification does not immediately affect the listing or trading of Arena’s common stock on the NYSE American. If the plan is accepted, the company can continue its listing during the 18-month cure period, subject to periodic reviews and quarterly monitoring.
Arena Group…
