Zevia PBC Faces NYSE Delisting Warning Over Low Stock Price
Ticker: ZVIA · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1854139
| Field | Detail |
|---|---|
| Company | Zevia Pbc (ZVIA) |
| Form Type | 8-K |
| Filed Date | Jul 2, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting-warning, nyse, compliance
TL;DR
NYSE warning: Zevia's stock price is too low, risking delisting unless it hits $1.00 soon.
AI Summary
Zevia PBC announced on June 26, 2024, that it received a notice from the New York Stock Exchange (NYSE) indicating non-compliance with listing standards due to its stock price falling below $1.00 per share for 30 consecutive trading days. The company has a period of six months to regain compliance by having its stock close at or above $1.00 per share on the last trading day of any calendar month within that period.
Why It Matters
This filing signals potential delisting from the NYSE, which could significantly impact Zevia's stock liquidity, investor confidence, and ability to raise capital.
Risk Assessment
Risk Level: high — The company is at high risk of being delisted from the NYSE if it cannot bring its stock price above $1.00 within the next six months.
Key Numbers
- $1.00 — Minimum Stock Price (Required closing price per share to avoid delisting.)
Key Players & Entities
- Zevia PBC (company) — The company filing the report.
- New York Stock Exchange (NYSE) (company) — The exchange that issued the non-compliance notice.
- $1.00 (dollar_amount) — The minimum stock price required to regain compliance with NYSE listing standards.
- June 26, 2024 (date) — The date Zevia PBC received the notice.
FAQ
What specific NYSE listing standard did Zevia PBC fail to meet?
Zevia PBC failed to meet the continued listing standard requiring its common stock to have a minimum closing price of $1.00 per share.
What is the timeframe for Zevia PBC to regain compliance with NYSE listing standards?
Zevia PBC has a period of six months from the date of the notice (June 26, 2024) to regain compliance.
What action must Zevia PBC take to regain compliance?
Zevia PBC must have its common stock close at or above $1.00 per share on the last trading day of any calendar month within the six-month compliance period.
What is the consequence if Zevia PBC fails to regain compliance?
If Zevia PBC fails to regain compliance within the six-month period, its common stock will be subject to delisting from the NYSE.
When did Zevia PBC receive the notice of non-compliance?
Zevia PBC received the notice of non-compliance on June 26, 2024.
Filing Stats: 717 words · 3 min read · ~2 pages · Grade level 10.1 · Accepted 2024-07-02 16:13:12
Key Financial Figures
- $0.001 — tered Class A common stock, par value $0.001 per share ZVIA New York Stock Excha
- $1.00 — tock (the "common stock") was less than $1.00 per share over a consecutive 30 trading
Filing Documents
- zvia-20240626.htm (8-K) — 47KB
- zvia-ex99_1.htm (EX-99.1) — 12KB
- img124095377_0.jpg (GRAPHIC) — 7KB
- 0000950170-24-080473.txt ( ) — 190KB
- zvia-20240626.xsd (EX-101.SCH) — 27KB
- zvia-20240626_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Zevia PBC Press Release dated July 2, 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. ZEVIA PBC Date: July 2, 2024 /s/ LORNA R. SIMMS Name: Lorna R. Simms Title: SVP, General Counsel and Corporate Secretary