Rockley Photonics Announces Receipt Of Notice From NYSE Of Non-Compliance With Continued Listing Standards

Author: Benzinga Newsdesk | December 15, 2022 05:18pm

Rockley Photonics Holdings Limited (NYSE:RKLY) (“Rockley”), a global medical technology company focused on delivering leading edge silicon photonics-based biosensing solutions by targeting a portfolio of biomarkers, today announced that it received a notice from the New York Stock Exchange (“NYSE”) on December 9, 2022, indicating that the Company is not in compliance with NYSE’s continued listing standards, which require an average market capitalization of not less than $50 million over a 30 trading-day period and stockholders’ equity of not less than $50 million. The notice has no immediate impact on the listing of Rockley’s common stock on the NYSE, subject to the Company’s compliance with the NYSE’s other continued listing requirements, except that its ticker symbol will continue to have an added designation of “.BC” to indicate the status of its ordinary shares as below compliance with the NYSE continued listing standards. The “.BC” indicator will be removed when it regains compliance.

Rockley intends to respond to the NYSE within ten business days of receipt of the notice of its intent to submit a business plan to the NYSE within 45 days that shows how the Company plans to regain compliance with this continued listing standard within 18 months from the date of the notice. If Rockley is unable to regain compliance, the NYSE may initiate procedures to suspend and delist its common stock.

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