NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange ("NYSE", the "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of BowFlex Inc. (the "Company") - ticker symbol BFX - from the NYSE. Trading in the Company's common stock will be suspended immediately.
NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after the Company's March 5, 2024 Form 8-K and press release disclosure that the Company and certain of its subsidiaries have voluntarily initiated a Chapter 11 proceeding in the United States Bankruptcy Court for the District of New Jersey. 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 common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
Contacts
Company Contact:
Investor Relations:
John Mills
ICR, LLC
646-277-1254
John.Mills@icrinc.com
NYSE Contact:
NYSE Communications
PublicRelations-NYSE@ice.com
