VIA optronics AG Announces Receipt of Notice Regarding NYSE Continued Listing Standards
- None.
- The company is at risk of delisting from the NYSE if it does not regain compliance with the minimum share price requirement within the six-month cure period.
The notification received by VIA optronics AG from the NYSE regarding non-compliance with the minimum share price requirement poses a significant concern for current and potential investors. The stipulation that a company's share price must maintain an average closing price of at least US $1.00 over a 30 trading-day period is a standard measure to ensure a baseline market confidence and liquidity. Falling below this threshold can often trigger investor apprehension about the company's financial health and future prospects.
Investors should closely monitor VIA's stock performance during the six-month cure period. The company's ability to regain compliance will depend not only on operational improvements but also on investor sentiment and broader market conditions. A successful turnaround in share price can be indicative of management's effectiveness in addressing the underlying issues that may have led to the stock's decline. Conversely, failure to meet the NYSE requirements might lead to delisting, which typically results in reduced liquidity and visibility in the market, potentially impacting the stock's volatility and attractiveness to institutional investors.
Delisting concerns can have a material impact on a company's reputation and its ability to raise capital. It is crucial to assess the competitive landscape and market trends that VIA optronics AG operates within. The interactive display systems industry is highly competitive and rapidly evolving, with technological advancements and innovation driving growth. The company's performance relative to its peers will be a key factor in its ability to maintain or improve its market share and financial stability.
Market perception following the receipt of a non-compliance notice can also influence partnerships, customer relationships and overall brand value. Stakeholders will be interested in VIA's strategic initiatives during the cure period, such as new product launches, cost optimization strategies, or partnerships, which might contribute to a positive shift in the company's stock trajectory.
From a legal perspective, VIA optronics AG's notification from the NYSE is procedural and provides the company with a clear framework for regaining compliance. It is essential to understand the regulatory environment in which VIA operates. The NYSE's continued listing standards are designed to protect investors and maintain fair and orderly markets. VIA's communication of intent to cure is an important step in maintaining transparency with regulatory bodies and stakeholders.
During the cure period, VIA must continue to comply with other listing standards, which include reporting obligations to the Securities and Exchange Commission (SEC). Any missteps in regulatory compliance could exacerbate the situation. It is also important for the company to review its internal policies to ensure they align with the efforts to improve share price performance and meet the exchange's requirements.
Pursuant to Section 802.01C of the NYSE's Listed Company Manual, a company will be considered to be below compliance standards if the average closing price of its security is less than US
The Company has notified the NYSE on December 22, 2023 of its intent to cure within the applicable time period. The Company’s common stock will continue to be listed and trade on the NYSE during the cure period, subject to the Company’s compliance with other NYSE continued listing standards. The Company’s receipt of the Letter does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission.
About VIA
VIA is a leading provider of enhanced display solutions for multiple end-markets in which superior functionality or durability is a critical differentiating factor. Its customizable technology is well-suited for high-end markets with unique specifications as well as demanding environments that pose technical and optical challenges for displays, such as bright ambient light, vibration and shock, extreme temperatures and condensation. VIA’s interactive display systems combine system design, interactive displays, software functionality, cameras and other hardware components. VIA’s intellectual property portfolio, process know-how, and optical bonding and metal mesh touch sensor and camera module technologies provide enhanced display solutions that are built to meet the specific needs of its customers.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include, but are not limited to statements relating to: future events; the estimated or anticipated future results and revenues of the Company, including any guidance provided by the Company related thereto; future opportunities for the Company; future planned products and services; business strategy, plans and the implementation of operational initiatives; objectives of management for future operations of the Company; market size and growth opportunities; expectations regarding customer relationships and retention; the future availability or cost of purchased components, compounds, raw materials and energy due to shortages, increased demand and wages, supply chain interruptions, or natural or other disasters; supply chains, distribution and logistics; competitive position, technological and market trends; the outcome of any potential internal investigations and other statements that are not historical facts. The words, without limitation, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words.
Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement, including, without limitation, risks relating to: (1) operational execution, including the extent to which the Company can realize the benefits of changes to the Management Board and planned operational improvements; (2) competitive conditions and customer preferences; (3) disruption in supply chain and distribution; (4) increases or volatility in the cost of raw materials and commodities; (5) failure to meet high and ethical standards; and (6) significant changes or deterioration in customer relationships. Additional factors are described under Item 3. “Key Information—D. Risk Factors,” in our Annual Report on Form 20-F as filed with the US Securities and Exchange Commission. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. Any forward-looking statements contained in this press release are based on the current expectations of VIA’s management team and speak only as of the date hereof, and VIA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Due to rounding, it is possible that individual figures in this and other documents do not add up precisely to the totals shown and that percentages presented do not accurately reflect the absolute values to which they relate.
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Investor Relations
Griffin Morris
Margaret Jones
Alpha IR Group
Phone: +1 312-445-2870
VIAO@alpha-ir.com
Media
Alexandra Müller-Plötz
Phone: +49 911 597 575-302
Amueller-ploetz@via-optronics.com
Source: VIA optronics AG
FAQ
What is the reason behind VIA optronics AG receiving a letter from the NYSE?
What is the cure period mentioned in the letter from the NYSE?
What happens if the company does not achieve compliance within the cure period?
Will the receipt of the letter affect the Company’s business, operations, or reporting requirements with the Securities and Exchange Commission?
