Rite Aid gets NYSE non-compliance notice, continues reviewing options

By Sarah Lizee

Olympia, Wash., Oct. 5 – Rite Aid Corp. was informed by the New York Stock Exchange that it is no longer in compliance with NYSE continued listing standards, specifically the minimum market capitalization standard.

Under the NYSE rules, the company is provided with certain cure periods, and its common stock will continue to be listed and traded on the NYSE during those periods, subject to the company’s compliance with other continued listing requirements.

The company said in a Wednesday press release that the current noncompliance with the NYSE listing standards does not affect its ongoing business operations or its Securities and Exchange Commission reporting requirements, nor does it trigger any violation of its material debt or other obligations.

Rite Aid said it has been engaged in reviewing and continues to review strategic alternatives to recapitalize, refinance or otherwise optimize its capital structure, which may ultimately result in the company pursuing one or more significant corporate transactions or other remedial measures.

The ongoing review includes an evaluation of available options to regain compliance with the NYSE’s continued listing standards.

Rite Aid is a full-service pharmacy with headquarters in Philadelphia.

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