Express, Inc. Faces Delisting from NYSE, Moves to OTC Pink® Market
COLUMBUS, Ohio, March 06, 2024– Express, Inc. (NYSE: EXPR) has been notified by the New York Stock Exchange (“NYSE”) that its common stock will be delisted and trading will be suspended after market close on March 6, 2024. The company’s common stock will now trade publicly on the OTC Pink® Market under the symbol “EXPR”.
The decision to delist the company’s common stock was made by the NYSE due to Rule 802.01B of the NYSE Listed Company Manual, which requires listed companies to maintain an average global market capitalization of at least $15 million over a period of 30 consecutive trading days.
Express, Inc. CEO, Stewart Glendinning, stated, “Over the past several months, we have taken decisive steps to position Express for the long term, including implementing cost-saving initiatives and streamlining our processes. We remain focused on serving our customers and positioning our organization for the future.”
The transition to the over-the-counter market will not affect the company’s business operations or its U.S. Securities and Exchange Commission reporting obligations. It also does not conflict with or cause an event of default under any of the company’s material debt or other agreements.
Express, Inc. is a multi-brand fashion retailer with a portfolio that includes Express, Bonobos, and UpWest. The company operates an omnichannel platform as well as physical and online stores. Express has approximately 530 retail and outlet stores in the United States and Puerto Rico, while Bonobos and UpWest also have a significant online presence.
Investors and stakeholders can find more information about the company and its brands on their respective websites. Express, Inc. will continue to update the public on any developments related to the transition to the OTC Pink® Market.
For further information, please contact Mark A. Still, Interim Chief Financial Officer, at 614-474-8221 or ir@express.com.
Source: https://www.businesswire.com/news/home/20240306597495/en/
