KORE Group Holdings Takes Action to Address NYSE Listing Notice
KORE Group Holdings Takes Action to Address NYSE Listing Notice
KORE intends to cure the deficiency and return to compliance with NYSE listing standards
KORE Group Holdings, Inc. (NYSE: KORE) is making significant efforts to address a recent notice regarding its compliance with New York Stock Exchange standards. The Company, a pioneer in Internet of Things (IoT) solutions, was informed that it fell short of specific listing standards due to its average global market capitalization and stockholders' equity being reported at less than $50 million over a 30-day trading period.
Following the receipt of this notice on September 12, KORE is required to submit a plan to the NYSE detailing the decisive actions that will lead to compliance with listing standards within 45 days. This plan is crucial for the Company to maintain its standing on the exchange and to continue the trading of its common stock throughout the prescribed 18-month cure period.
Throughout this period, as long as KORE complies with other Listing standards, its common stock is expected to remain listed and can continue to be traded on the NYSE. Importantly, the notice does not hinder the operational capacity of KORE or its obligations to report to the Securities and Exchange Commission. This showcases the resilience of the company and its ongoing commitment to its shareholders and operations.
About KORE Group Holdings
KORE Group Holdings is recognized as a leader in IoT solutions, dedicated to simplifying connected experiences for organizations worldwide. With a vast array of tailored IoT services, KORE facilitates improvements across operational efficiencies and business results. Their expansive IoT expertise and ability to deploy customized solutions quickly allows clients to achieve significant advancements in their business outcomes.
In essence, KORE serves as a trusted advisor and partner, ensuring that businesses harness the potential of IoT to innovate and lead in their respective markets. For more insights into KORE's offerings and advancements in technology, their official website provides comprehensive information and resources.
KORE’s proactive approach emphasizes its willingness to adapt and respond effectively to challenges while striving for excellence. The Company acknowledges the importance of regulatory compliance and is prepared to implement strategies that ensure adherence to market standards.
Frequently Asked Questions
What did KORE receive from the NYSE?
KORE received a notice indicating it is not in compliance with NYSE listing standards due to its market capitalization and stockholders' equity being below required thresholds.
What is KORE's plan to address the NYSE notice?
KORE plans to submit a detailed compliance plan to the NYSE within 45 days outlining its strategies to regain compliance with listing standards.
How will this notice affect KORE’s operations?
The notice does not impact KORE’s business operations or its obligations to report to the Securities and Exchange Commission.
How long does KORE have to comply with NYSE standards?
KORE has 18 months to cure the deficiency and achieve compliance with NYSE standards after the acceptance of their plan.
What are KORE's main services?
KORE specializes in IoT solutions and services, focusing on enhancing operational and business results for organizations through reliable and tailored IoT strategies.
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