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Rcs Capital Corporation Receives A Continued Listing Standard Letter From The Nyse

The following excerpt is from the company's SEC filing.

– RCS Capital Corporation (“RCS Capital” or the “Company”) (NYSE: RCAP) announced today that it has been notified by the New York Stock Exchange (“NYSE”) on November 10, 2015 that its Class A common stock did not satisfy one of the NYSE standards for continued listing. The NYSE requires that the average closing price per share of a listed company be in excess of $1.00 for a consecutive 30-trading-day period. On November 6, 2015, the average closing price per share of the Company’s Class A common stock during the preceding 30-trading-day period was below the $1.00 requirement.

Under the NYSE rules, the Company has a period of six months following receipt of the notification, subject to possible extension, to bring its average share price back to $1.00. Notwithstanding the NYSE notification, the Company’s Class A common stock will continue to be listed and traded on the NYSE during this period. The Company intends to notify the NYSE that it anticipates that this deficiency will be cured and that it will return to compliance with the NYSE continued listing standard, and the NYSE has agreed to work with the Company through its initiatives.

bout RCS Capital

RCS Capital Corporation (NYSE: RCAP) is a full-service investment firm expressly focused on the...