Allurion Technologies Faces Delisting Concerns
Ticker: ALURW · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1964979
| Field | Detail |
|---|---|
| Company | Allurion Technologies, INC. (ALURW) |
| Form Type | 8-K |
| Filed Date | Sep 5, 2024 |
| Risk Level | high |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $8.10, $50.0 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
Allurion's stock might get delisted - big trouble ahead.
AI Summary
Allurion Technologies, Inc. filed an 8-K on August 29, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The company is also providing a Regulation FD disclosure and filing financial statements and exhibits. This filing indicates potential issues with the company's continued listing on its exchange.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the company's stock being delisted, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to its operations and investors.
Key Players & Entities
- Allurion Technologies, Inc. (company) — Registrant
- August 29, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 001-41767 (commission_file_number) — SEC File Number
FAQ
What specific rule or standard has Allurion Technologies, Inc. failed to satisfy, leading to the notice of delisting?
The filing does not specify the exact rule or standard that Allurion Technologies, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is August 29, 2024.
What is the Commission File Number for Allurion Technologies, Inc.?
The Commission File Number for Allurion Technologies, Inc. is 001-41767.
In which state is Allurion Technologies, Inc. incorporated?
Allurion Technologies, Inc. is incorporated in Delaware.
Besides the notice of delisting, what other items are included in this 8-K filing?
This 8-K filing also includes a Regulation FD Disclosure and Financial Statements and Exhibits.
Filing Stats: 1,409 words · 6 min read · ~5 pages · Grade level 13.6 · Accepted 2024-09-05 16:35:09
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share ALUR The New York Stock E
- $8.10 — mon stock, each at an exercise price of $8.10 per share of common stock ALUR WS T
- $50.0 million — talization of the Company was less than $50.0 million over the consecutive 30 trading-day per
Filing Documents
- alur-20240829.htm (8-K) — 52KB
- alur-ex99_1.htm (EX-99.1) — 17KB
- 0000950170-24-104047.txt ( ) — 225KB
- alur-20240829.xsd (EX-101.SCH) — 47KB
- alur-20240829_htm.xml (XML) — 7KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 29, 2024, Allurion Technologies, Inc. (the "Company") received written notice (the "Notice") from the New York Stock Exchange (the "NYSE") that it is not in compliance with the continued listing standard set forth in Section 802.01B of the NYSE's Listed Company Manual (the "Minimum Market Capitalization Standard") because the average market capitalization of the Company was less than $50.0 million over the consecutive 30 trading-day period ended August 29, 2024 and the Company's last reported stockholders' equity as of August 29, 2024 was less than $50.0 million. The Notice does not result in the immediate delisting of the Company's common stock from the NYSE. In accordance with applicable NYSE procedures, within 45 days from receipt of the Notice, the Company intends to submit a plan to the NYSE advising it of the definitive action(s) the Company has taken, is taking, or plans to take that would bring it into conformity with the Minimum Market Capitalization Standard within 18 months of receipt of the Notice (the "Cure Period"). Upon receipt of such plan, the NYSE will evaluate the plan and determine whether the Company has made a reasonable demonstration of its ability to come into conformity with the relevant listing standards within the Cure Period. If the NYSE accepts the Company's plan, the NYSE will review the Company on a quarterly basis to confirm compliance with the plan. If the Company's plan is not accepted, the Company fails to comply with the plan or does not meet the Minimum Market Capitalization Standard at the end of the Cure Period, it will be subject to NYSE's prompt initiation of suspension and delisting procedures. The Notice has no immediate impact on the listing of the Company's common stock, which will continue to be listed and traded on the NYSE during such cure period, subject to the Company's compliance with other
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. As required by Section 802.01B, the Company issued a press release on September 5, 2024, announcing that it had received the notice of noncompliance with the NYSE's continued listing standards. A copy of the press release is being furnished herewith as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 99.1 Press Release of Allurion Technologies, Inc., dated September 5, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ALLURION TECHNOLOGIES, INC. Date: September 5, 2024 By: /s/ Brendan Gibbons Name: Title: Brendan Gibbons Chief Legal Officer