Wheels Up received a notice from the New York Stock Exchange stating that the average closing price per share of its common stock did not equal at least $1.00 over a consecutive 30 trading-day period.
The company remains committed to its business transformation and strategic initiatives despite the notice from NYSE.
The notice has no immediate effect on the listing of Wheels Up's common stock on the NYSE.
NYSE Notice
Received a notice from NYSE regarding the minimum share price requirement.
Business Transformation
Continuing multi-year business transformation including fleet transition and cost reduction actions.
Strategic Initiatives
Focused on building a resilient business model for sustainable future profitability.
Compliance Period
Six months granted to regain compliance with NYSE minimum share price requirement.
- Wheels Up's common stock remains listed and will trade on NYSE during the compliance period.
- Company intends to consider various options, including a potential reverse stock split, to regain compliance with NYSE's listing standards.
Wheels Up remains determined to execute its strategic plans and maintain compliance with NYSE standards. The company's focus on business transformation and efficient operations continues to drive its future growth.