KORE Group faces NYSE compliance challenge in September 2024

On September 12, 2024, KORE Group Holdings, Inc. received a notice from the New York Stock Exchange indicating non-compliance with its listing standards. The notice was due to KORE's average global market capitalization and stockholders' equity falling below the $50 million threshold over a consecutive 30 trading-day period. This situation places the company at risk of delisting from the NYSE, which could impact its market presence and investor confidence. In response to the notice, KORE plans to submit a compliance plan to the NYSE within 45 days, detailing the actions it will take to rectify the deficiencies. If the NYSE accepts this plan, KORE's common stock will remain listed and traded on the exchange during an 18-month cure period, provided the company adheres to other listing standards and undergoes periodic reviews by the NYSE. The company reassured stakeholders that the receipt of the notice does not affect its ongoing business operations or reporting obligations to the Securities and Exchange Commission. KORE is committed to addressing the issues raised by the NYSE and aims to restore compliance with the listing standards. KORE Group Holdings is recognized as a leader in Internet of Things solutions, and its ability to maintain its NYSE listing is crucial for its operational and financial stability. The outcome of this situation will be closely monitored by investors and analysts, as it could significantly influence KORE's future growth and market strategy.