System1 Faces Delisting Notice
Ticker: SSTPW · Form: 8-K · Filed: Dec 12, 2025 · CIK: 1805833
| Field | Detail |
|---|---|
| Company | System1, Inc. (SSTPW) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2025 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $50 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: SST
TL;DR
System1 might get delisted, check the filings.
AI Summary
System1, Inc. filed an 8-K on December 12, 2025, reporting a notice of delisting or failure to satisfy continued listing rules. The filing also includes Regulation FD disclosures and financial statements/exhibits. The company was formerly known as Trebia Acquisition Corp. before changing its name on March 6, 2020.
Why It Matters
This filing indicates potential issues with System1, 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 suggests significant financial or operational distress for the company.
Key Players & Entities
- System1, Inc. (company) — Registrant
- Trebia Acquisition Corp. (company) — Former company name
- 0001805833-25-000020 (filing_id) — Accession Number
- 20251212 (date) — Filing date
- 20251208 (date) — Earliest event reported
FAQ
What specific rule or standard has System1, Inc. failed to satisfy to warrant a delisting notice?
The filing indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule or standard in the provided text.
When was System1, Inc. formerly known as Trebia Acquisition Corp.?
System1, Inc. was formerly known as Trebia Acquisition Corp. before its name change on March 6, 2020.
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to report a notice of delisting or failure to satisfy continued listing rules, along with Regulation FD disclosures and financial statements/exhibits.
What is System1, Inc.'s principal executive office address?
System1, Inc.'s principal executive offices are located at 4235 Redwood Avenue, Los Angeles, California 90066.
What is the Commission File Number for System1, Inc.?
The Commission File Number for System1, Inc. is 001-39331.
Filing Stats: 748 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2025-12-12 16:05:12
Key Financial Figures
- $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share SST New York Stock
- $50 million — age market capitalization was less than $50 million and its last reported stockholder's equ
Filing Documents
- sst-20251208.htm (8-K) — 32KB
- ex991_compliancenoticepres.htm (EX-99.1) — 7KB
- system1logobmpa.jpg (GRAPHIC) — 5KB
- 0001805833-25-000020.txt ( ) — 165KB
- sst-20251208.xsd (EX-101.SCH) — 2KB
- sst-20251208_lab.xml (EX-101.LAB) — 22KB
- sst-20251208_pre.xml (EX-101.PRE) — 13KB
- sst-20251208_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 December 8, 2025 System1, Inc. (the "Company") received a letter from the New York Stock Exchange (the "NYSE") notifying the Company that it is currently not in compliance with Section 802.01B of the NYSE Listed Company Manual because as of December 5, 2025, the Company's 30 trading-day average market capitalization was less than $50 million and its last reported stockholder's equity as of September 30, 2025 was less than $50 million. The Company has a period of 18 months to cure the market capitalization and/or stockholder's equity deficiencies, subject to NYSE's approval of the Company's business plan to demonstrate its ability to regain compliance with such deficiencies within the 18-month cure period. The Company will notify the NYSE by December 22, 2025, that it intends to submit a business plan by January 22, 2026, to cure the market capitalization and/or stockholder's equity deficiencies in order to return to compliance with the NYSE's continued listing standards. The Company intends to consider all available alternatives to cure the listing compliance deficiencies identified by the NYSE. Section 7 - Regulation FD
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. As required by Section 802.02 of the NYSE Listed Company Manual, the Company issued a press release on December 12, 2025, announcing that it had received the notice of noncompliance with the NYSE's continued listing standards. A copy of the press release is furnished herewith as Exhibit 99.1. The information in this Item 7.01, including the information contained in Exhibit 99.1 of this Current Report on Form 8-K, is being furnished herewith and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, regardless of any general incorporation language in such filing. Section 9 - Financial Statements and Exhibits
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release of System1, Inc dated December 12, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. System1, Inc. Date: December 12, 2025 By: /s/ Daniel J. Weinrot Name: Daniel J. Weinrot Title: General Counsel & Corporate Secretary 3