Meal Kit Company Blue Apron Could Get Booted from the NYSE
Posted on 12/27/2022
Blue Apron Inc. (NYSE: APRN) is an American ingredient-and-recipe meal kit company headquartered in New York City, operating its services exclusively in the United States. Blue Apron received written notice on December 21, 2022, from the New York Stock Exchange (NYSE) that the company is not in compliance with the NYSE continued listing standards, which require it to maintain: (i) a minimum average closing price of at least $1.00 per share over a consecutive 30-day trading period; and (ii) an average global market capitalization of at least $50.0 million over a consecutive 30-day trading period and, at the same time, a total stockholders’ equity equal to or greater than $50.0 million. Blue Apron plans to notify the NYSE by January 6, 2023 of its receipt of the notice and that it intends to submit a plan to cure both the global market capitalization listing standard deficiency and the minimum share price listing standard deficiency.
As of September 30, 2022, Wolf Hill Capital Management, LP is one of the largest shareholders in Blue Apron.
