NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange LLC ("NYSE" or "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A Common Stock of Revlon, Inc. (the "Company") — ticker symbol REV — from the NYSE.
NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D. The Company filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York on June 15, 2022. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the ultimate effect of this process on the value of the Company's common stock.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company's securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
The NYSE will announce a suspension date and suspend trading at such time as i) the Company does not request a review by the Committee within 10 business days of this notice, ii) the Company determines that it does not intend to appeal, iii) the subsequent review of the Committee determines that the Company should be suspended, or iv) there are other material developments. After the suspension announcement, the NYSE would then apply to the Securities and Exchange Commission to delist the common stock.
Contacts
Company Contact:
Longacre Square Partners
Dan Zacchei / Charlotte Kiaie
dzacchei@longacresquare.com / ckiaie@longacresquare.com
NYSE Contact:
NYSE Communications
PublicRelations-NYSE@ice.com
