GigCapital receives noncompliance notice from NYSE
GigCapital announced that on August the company received notice from the New York Stock Exchange, or NYSE, that it was not currently in compliance with the requirement of Section 802.01B of the NYSE Listed Company Manual that the company's common stock and units be held by a minimum of 300 public shareholders. Pursuant to the NYSE notice, the company is subject to the procedures set forth in Sections 801 and 802 of the NYSE manual and must submit a business plan within 45 days of receipt of the NYSE notice that demonstrates how the company expects to return to compliance with the minimum public shareholders requirement within 18 months of receipt of the notice. The company expects that upon completion of its previously announced initial business combination it will have at least 400 public stockholders and will regain compliance at such time. The notice and procedures described above have no effect on the listing of the company's securities at this time, subject to the company's compliance with other continued listing requirements and the company intends to submit a plan to regain compliance as required by the rules of the NYSE and as set forth in the NYSE notice.