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Ginkgo Bioworks Receives Continued Listing Standard Notice From NYSE

Published 05/13/2024, 04:07 PM
Ginkgo Bioworks (DNA) Receives Continued Listing Standard Notice From NYSE

Ginkgo Bioworks (DNA) Receives Continued Listing Standard Notice From NYSE

DNA
6.93%

Ginkgo Bioworks Holdings (NYSE:DNA), Inc. (DNA, "Ginkgo" or the "Company"), which is building the leading platform for cell programming and biosecurity, today announced that it received a notice on May 7, 2024 from the New York Stock Exchange ("NYSE") informing the Company that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company's Class A common stock was less than $1 per share over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company's Class A common stock from the NYSE.

In accordance with applicable NYSE rules, the Company will notify the NYSE of its intent to regain compliance with applicable NYSE continued listing standards within 10 business days of receiving the notification. NYSE rules give Ginkgo a six-month period to regain compliance with the minimum price criteria. The Company intends to regain compliance with NYSE's continued listing standards and is considering all available options to do so.

Receipt of the NYSE notice does not affect Ginkgo's business operations. The Company's Class A common stock will continue to be listed and trade on the NYSE during the six-month cure period under the trading symbol "DNA", but will have an added designation of ".BC" to indicate that the Company is not currently in compliance with the NYSE's continued listing requirements.

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