▾ G11 Media Network: | ChannelCity | ImpresaCity | SecurityOpenLab | Italian Channel Awards | Italian Project Awards | Italian Security Awards | ...
InnovationOpenLab

MultiPlan Corporation Receives Continued Listing Standard Notice from NYSE

$MPLN #MPLN--MultiPlan Corporation (NYSE: MPLN) (“MultiPlan” or the “Company”) announced today that it received notice (the “Notice”) on March 28, 2024 from the New York Stock Exchange (th...

Business Wire

Company has six months to regain compliance with the minimum price criteria for continued listing on the NYSE

Company remains focused on executing its Growth Plan and on delivering results and shareholder value

NEW YORK: $MPLN #MPLN--MultiPlan Corporation (NYSE: MPLN) (“MultiPlan” or the “Company”) announced today that it received notice (the “Notice”) on March 28, 2024 from the New York Stock Exchange (the “NYSE”) that, as of March 27, 2024, it was not in compliance with the continued listing standard set forth in Section 802.01C of the NYSE’s Listed Company Manual (“Section 802.01C”) because the average closing price of the Company’s Class A Common Stock (the “Common Stock”) was less than $1.00 per share over a consecutive 30 trading-day period.

Pursuant to Section 802.01C, the Company has a period of six months following the receipt of the Notice to regain compliance with the minimum price criteria. In accordance with Section 802.01C, the Company plans to notify the NYSE within 10 business days of its receipt of the Notice of its intent to cure the deficiency, which may include, if necessary, effecting a reverse stock split, subject to approval by the Board of Directors and stockholders of the Company.

The Company may regain compliance with the minimum price criteria at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period, the Company has (i) a closing share price of at least $1.00, and (ii) an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

The Notice has no immediate impact on the listing of the Common Stock, which will continue to be listed and traded on the NYSE during this period, subject to the Company’s compliance with the other continued listing requirements of the NYSE.

The Notice does not affect the Company’s business operations or its reporting obligations with the Securities and Exchange Commission, nor does it conflict with or prompt default under any of the Company’s material debt or other agreements. The Company fully intends to regain compliance and will take necessary action to ensure that the Common Stock continues to be listed on the NYSE. The Company remains focused on executing its Growth Plan and on delivering results and shareholder value.

About MultiPlan

MultiPlan is committed to delivering affordability, efficiency, and fairness to the US healthcare system by helping healthcare payors manage the cost of care, improve their competitiveness, and inspire positive change. Leveraging sophisticated technology, data analytics, and a team rich with industry experience, MultiPlan interprets customers’ needs and customizes innovative solutions that combine its payment and revenue integrity, network-based, analytics-based, and data and decision science services. MultiPlan is a trusted partner to over 700 healthcare payors, brokers, employers and groups, and supplemental carriers in the commercial health, government, and property and casualty markets. For more information, visit multiplan.com.

Forward Looking Statements

This press release contains forward-looking statements. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “forecasts,” “intends,” “plans,” “may,” “will” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date they are made. Any forward-looking statements that we make herein are not guarantees of future performance and actual results may differ materially from those in such forward- looking statements as a result of various factors. Factors that may impact such forward-looking statements also include the factors discussed under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023; and other factors beyond our control. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. The Company’s periodic and other filings are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Fonte: Business Wire

If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter.

Related news

Last News

RSA at Cybertech Europe 2024

Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for…

Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurity

G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes

How Austria is making its AI ecosystem grow

Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries

Sparkle and Telsy test Quantum Key Distribution in practice

Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing…

Most read

Mastercard Incorporated to Host Information Session on Agentic Commerce…

On Monday, July 14, 2025 at 10:00 a.m. Eastern Time, Mastercard Incorporated (NYSE: MA) will host a session to explore Mastercard’s recent announcements…

Wave Function™ and Packsmith.ai: Redefining E-Commerce with AI Logistics

#3PL--Wave Function™, a New Bedford, MA-based founding partnership company, has invested in Packsmith.ai, a Los Angeles-based, AI-driven third-party logistics…

AI Unicorn EvenUp Opens New San Francisco Headquarters to Catalyze Growth…

#AI--EvenUp, the highest-funded AI technology company serving personal injury law firms, has officially opened its new headquarters at 353 Sacramento…

Amazon Prime Day 2025 Delivers Record Sales and Savings in Expanded Four-Day…

Amazon announced today that Prime Day 2025 was its biggest Prime Day event ever and that customers saved billions on deals across more than 35 product…

Newsletter signup

Join our mailing list to get weekly updates delivered to your inbox.

Sign me up!