On February 27, 2017 hhgregg, Inc. (“the Company”) was notified by the New York Stock Exchange (the “NYSE”) that the Company’s average global market capitalization over a consecutive 30 trading-day period fell below $15,000,000 to Section 802.01B of the NYSE’s Listed Company Manual and the NYSE has determined to commence proceedings to delist its common stock. Trading in the Company’s common stock was suspended immediately after the market closed on February 27, 2017.
The Company has a right to review this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission (the “SEC”) to delist the common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. The Company does not intend to appeal the determination and, therefore, it is expected the Company’s common stock will be delisted. Effective February 28, 2017, the common stock of the Company commenced trading on the OTC Pink marketplace under the symbol HGGG. The Company can provide no assurance that its common stock will continue to trade on this market, whether broker-dealers will continue to provide public quotes of the Company’s common stock on this market, whether the trading volume of the Company’s common stock will be sufficient to provide for an efficient trading market or whether quotes for the Company’s common stock may be blocked by OTC Markets Group in the future.
About hhgregg, Inc. (NYSE:HGG) hhgregg, Inc. (hhgregg) is an appliance, electronics and furniture retailer. The Company operates as a multi-regional retailer with approximately 230 brick-and-mortar stores in 20 states that also offer global and local brands across the nation through hhgregg.com. It also sells a suite of services, including third-party premium service plans (PSPs), third-party in-home service and repair of its products, delivery and installation, and in-home repair and maintenance. The Company sells a range of appliances, audio products, computers, consumer electronics, mattresses and tablets. The Company sells appliances, including washers and dryers, refrigerators, cooking ranges, dishwashers, freezers and air conditioners; consumer electronics, including televisions, Blu-Ray and digital versatile disc (DVD) players, audio and small electronics; computers and tablets, including computers, computer accessories and tablets, and home products, including bedding and home furniture.
hhgregg, Inc. (NYSE:HGG) Recent Trading Information hhgregg, Inc. (NYSE:HGG) closed its last trading session down -0.021 at 0.230 with 1,450,108 shares trading hands.
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