Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
The Company has experienced substantial and recurring losses from operations. As
such, the Company has been considering available options including restructuring
its obligations or seeking protection under the bankruptcy laws. Therefore, the
Company plans to notify the NYSE by
In order to avoid delisting under Section 802.01B, the Company has 45 days from the receipt of the Notice to submit a business plan advising the NYSE of definitive actions the Company has taken, or is taking, that would bring the Company into compliance with the market capitalization listing standards. If the NYSE accepts the plan, the Company's common stock will continue to be listed and traded on the NYSE during the cure period, subject to compliance with other continued listing standards, and the Company will be subject to quarterly monitoring by the NYSE for compliance with the plan. If the plan is not submitted on a timely basis or is not accepted, the NYSE could initiate delisting proceedings.
The Notice has no immediate impact on the listing of the Company's common stock,
which will continue to be listed and traded on the NYSE under the common stock
trading symbol "RTW," but will have an added designation of ".BC" to indicate
the status of the common shares as "below compliance." The current noncompliance
with the standards described above does not affect the Company's ongoing
business operations or its reporting requirements with the
As required under the NYSE rules, the Company issued a press release on
Item 7.01. Regulation FD Disclosure.
On
The information, including Exhibit 99.1 hereto, the Company furnished under Item
7.01 of this report is not deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that section. Registration statements or other documents filed
with the
2
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit Exhibit No. Description 99.1 Press release issued onJune 25, 2020 3
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