Allurion Intends to Appeal NYSE Notice of Delisting, Execute Plan to Regain Compliance, and Expects to Continue Trading on NYSE
Company’s recent FDA approval catalyzes plan to regain compliance with listing requirements of NYSE or another exchange; shares of common stock expected to continue trading on NYSE during appeal process
Allurion intends to appeal, and the Company expects its common stock to continue to trade on the NYSE during the appeal process.
“We have been in regular contact with the NYSE about our step-by-step plan to regain compliance with its listing standards or initiate listing on the NYSE American,” said Dr.
The Company’s efforts to regain compliance with the continued listing requirements of the NYSE or gain compliance with the initial listing requirements of another exchange are ongoing and include discussions and negotiations with existing creditors and security holders, as well as capital raising efforts. In furtherance thereof, the Company has previously announced an agreement with its largest creditor to exchange all of its outstanding debt securities for shares of preferred stock at an exchange ratio representing a substantial premium to the Company’s current trading price, subject to certain conditions, and the completion of a warrant inducement transaction on
While the Company is working diligently to regain compliance and intends to appeal the NYSE staff determination, there is no guarantee that the Company will regain compliance with, and remain listed on, the NYSE, or be able to relist on another national exchange.
Forward-Looking Statements
This press release contains forward-looking statements that reflect Allurion’s beliefs and assumptions based on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terms, although not all forward-looking statements contain these words. Although Allurion believes it has a reasonable basis for each forward-looking statement contained in this release, these statements involve risks and uncertainties that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.
Forward-looking statements in this press release include, but are not limited to, statements regarding: our efforts to regain compliance with the NYSE continued listing standards or apply for an initial listing on another exchange; our ability to obtain capital through an equity financing or otherwise; our expectations relating to the use of the Allurion Gastric Balloon System (including in combination with GLP-1 therapies) to treat obesity, including with respect to its therapeutic benefits and the acceptance of Allurion’s products in the marketplace; our estimates regarding the number of patients using GLP-1 therapies; establishing a new standard for weight loss; pioneering in, and providing more patients and providers access to, metabolically healthy weight loss; and other statements about future events that reflect the current beliefs and assumptions of Allurion’s management based on information currently available to management.
Allurion cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions; the ability of Allurion to obtain and maintain regulatory approval for, and successfully commercialize, the Allurion Gastric Balloon System, including the Allurion Smart Capsule; the timing of, and results from, Allurion’s clinical studies and trials, including with respect to the combination of GLP-1s with the Allurion Smart Capsule; the evolution of the markets in which Allurion competes, including the impact of GLP-1 drugs; the ability of Allurion to regain compliance with the continued listing standards of the
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Investor Contact
investors@allurion.com
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