Hippo Holdings Faces Delisting Concerns
Ticker: HIPOW · Form: 8-K · Filed: Sep 10, 2024 · CIK: 1828105
| Field | Detail |
|---|---|
| Company | Hippo Holdings Inc. (HIPOW) |
| Form Type | 8-K |
| Filed Date | Sep 10, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $287 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
Hippo Holdings might get kicked off the exchange - big trouble.
AI Summary
Hippo Holdings Inc. filed an 8-K on September 10, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company, formerly Reinvent Technology Partners Z and B, is incorporated in Delaware and headquartered in Palo Alto, California.
Why It Matters
This filing indicates potential issues with Hippo Holdings Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to severe consequences for the company and its shareholders.
Key Numbers
- 001-39711 — SEC File Number (Identifies the company's filing history with the SEC.)
- 0001828105-24-000040 — Accession Number (Unique identifier for this specific SEC filing.)
Key Players & Entities
- Hippo Holdings Inc. (company) — Registrant
- Reinvent Technology Partners Z (company) — Former Company Name
- Reinvent Technology Partners B (company) — Former Company Name
- September 9, 2024 (date) — Date of earliest event reported
- September 10, 2024 (date) — Date of Report
- 150 Forest Avenue Palo Alto, California 94301 (address) — Registrant's principal executive offices
FAQ
What specific listing rule or standard has Hippo Holdings Inc. failed to satisfy?
The filing does not specify the exact rule or standard that was not met, only that a notice has been issued.
What is the expected timeline for the delisting process, if it proceeds?
The filing does not provide a timeline for the delisting process.
Has Hippo Holdings Inc. taken any steps to rectify the situation and avoid delisting?
The filing does not detail any specific actions taken by the company to address the listing issue.
What is the primary business of Hippo Holdings Inc.?
Hippo Holdings Inc. operates in the FIRE, MARINE & CASUALTY INSURANCE industry.
When did Hippo Holdings Inc. change its name from Reinvent Technology Partners Z?
The date of name change from Reinvent Technology Partners Z was October 29, 2020.
Filing Stats: 483 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-09-10 16:37:17
Key Financial Figures
- $0.0001 — ge on which registered Common stock, $0.0001 par value per share HIPO New York Stock
- $287 — stock at an exercise price per share of $287.50, ticker symbol "HIPO.WS." The NYSE
Filing Documents
- hippo-20240909.htm (8-K) — 28KB
- 0001828105-24-000040.txt ( ) — 184KB
- hippo-20240909.xsd (EX-101.SCH) — 2KB
- hippo-20240909_def.xml (EX-101.DEF) — 15KB
- hippo-20240909_lab.xml (EX-101.LAB) — 27KB
- hippo-20240909_pre.xml (EX-101.PRE) — 16KB
- hippo-20240909_htm.xml (XML) — 3KB
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 September 9, 2024, Hippo Holdings Inc. (the "Company") received notice (the "Notice") from the New York Stock Exchange (the "NYSE") that the Company's warrants (the "Warrants") are no longer suitable for listing based on "abnormally low selling price" levels, pursuant to Section 802.01D of the NYSE Listed Company Manual, and that the NYSE Regulation has determined to delist the Warrants. Every 25 Warrants are presently exercisable for one share of the Company's common stock at an exercise price per share of $287.50, ticker symbol "HIPO.WS." The NYSE has indicated that the Warrants have been delisted immediately. The Company does not intend to appeal the NYSE determination. Trading in the Company's common stock, ticker symbol "HIPO," will continue on the NYSE and is unaffected by this action.
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. Date: September 10, 2024 HIPPO HOLDINGS, INC. By: /s/ STEWART ELLIS Stewart Ellis Chief Financial Officer & Chief Strategy Officer