Vince Holding (VNCE +48.3%) that it failed to meet the continued listing standards set by the exchange.
The company’s 30-trading day average closing stock price was less than $1.00 and the 30-trading day average market capitalization of the Company was $47.2M vs. $50M required.
Management says it expects to notify the NYSE that the company intends to cure the deficiencies.
Shares of Vince are bolting higher today after a $30M rights offering commitment letter from Sun Capital Partners was lined up.
Source: Press Release