Rite Aid Corporation (NYSE:RAD) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Rite Aid Corporation (NYSE:RAD) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Ruleor Standard; Transfer of Listing.

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On January3, 2019, Rite Aid Corporation (the “Company”) was notified by the New York Stock Exchange (the “NYSE”) that the average per share trading price of its common stock was below the NYSE’s continued listing standard rulerelating to minimum average share price. Rule802.01C of the NYSE’s Listed Company Manual requires that a company’s common stock trade at a minimum average closing price of $1.00 over a consecutive 30 trading-day period.

In accordance with the NYSE’s rules, the Company will be providing the NYSE with written notice of its receipt of the notice and of its intention to pursue measures to cure the share price non-compliance, including for example through a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting, if necessary to cure the share price non-compliance. The Company has six months from receipt of the notice to regain compliance with the NYSE’s price condition or until the Company’s next annual meeting of stockholders if stockholder approval is required, as would be the case to effectuate a reverse stock split. Subject to the NYSE’s rules, during the cure period, the Company’s common stock will continue to be listed and trade on the NYSE as usual. The Company is in compliance with all other NYSE continued listing standard rules.

The Company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period. If the Company effectuates a reverse stock split following stockholder approval at its next meeting of the stockholders to cure the condition, the condition will be deemed cured if the price promptly exceeds $1.00 a share, and the price remains above that level for at least the following 30 trading days.

A copy of the press release announcing the notice of non-compliance with the NYSE trading share price continued listing ruleis attached hereto as Exhibit99.1 and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.

99.1

Press Release dated January4, 2019.

RITE AID CORP Exhibit
EX-99.1 2 a19-1207_1ex99d1.htm EX-99.1 Exhibit 99.1         Press Release For Further Information Contact:       INVESTORS: MEDIA: Byron Purcell Susan Henderson (717) 975-5809 (717) 730-7766   FOR IMMEDIATE RELEASE   Rite Aid Responds to Notice of Non-Compliance with NYSE Trading Share Price Listing Standard Rules   CAMP HILL,…
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About Rite Aid Corporation (NYSE:RAD)

Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog. It sells brand and generic prescription drugs, as well as an assortment of front-end products, including health and beauty aids, personal care products, seasonal merchandise, and a private brand product line. Its front-end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and numerous other everyday and convenience products. The Company’s Pharmacy Services segment consists of EnvisionRx, which provides a range of pharmacy benefit services.

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