NYSE to suspend trading immediately in Gelesis Holdings
NYSE to suspend trading immediately in Gelesis Holdings (NYSE:GLS) as the exchange has determined to commence proceedings to delist the common stock as Company's global market capitalization has fallen below the NYSE’s continued listing standard
The company failed to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000.
The Company has a right to a review of this determination by a committee of the board of directors of the exchange. The NYSE will apply to the Securities and Exchange Commission to delist the common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.