- Beachbody Company (BODI, Financial) receives NYSE notice for non-compliance with listing standards.
- The company must submit a compliance plan within 45 days to address market capitalization and equity deficits.
- Beachbody securities remain listed on the NYSE during this period, provided other requirements are met.
The Beachbody Company, Inc. (BODI) has announced that it received a notification from the New York Stock Exchange (NYSE) regarding its non-compliance with the exchange's required listing standards. The company has failed to maintain an average market capitalization of at least $50 million over a consecutive 30 trading-day period and a stockholders' equity of at least $50 million, as outlined in Section 802.01B of the NYSE Manual.
Under these NYSE requirements, Beachbody must submit a detailed business plan within 45 days that demonstrates how it plans to regain compliance within an 18-month period. Despite the notice, Beachbody’s securities will continue to be listed on the NYSE, provided it meets other listing conditions. The company has affirmed its intention to submit the necessary compliance plan to address these shortcomings.
Beachbody's current market capitalization stands at $36.96 million, which is below the NYSE's requirement. However, the management remains committed to taking the necessary steps to satisfy the NYSE's requirements and retain its listing status. Investors and stakeholders will be closely monitoring the situation as Beachbody endeavors to return to compliance.
