AAC Holdings submits business plan to NYSE
On Monday July 1, 2019, AAC Holdings submitted a plan to the New York Stock Exchange, Inc. regarding the company's efforts to improve its total market capitalization, following notice on May 17, 2019 from the NYSE that the company's average market capitalization was less than the required $50M over a consecutive 30 trading-day period and that the most recently reported stockholders' equity of the company was also less than $50M. By submitting the plan, the company will be eligible for the NYSE to permit an 18-month cure period with respect to the total market capitalization requirement and a six-month cure period with respect to the requirement that the company's share price exceed more than $1.00 for a 30-day trading period. The company received a notice from the NYSE with respect to the latter requirement on July 3, 2019. The NYSE notifications and plan response processes do not affect the company's business operations, its United States Securities and Exchange Commission reporting requirements, or its debt agreements.