Ryde Group Ltd. announced that it received a notice from NYSE American LLC on May 21, 2025, indicating non-compliance with continued listing standards. The notice specifically cited Section 1003(a)(ii) of the NYSE American Company Guide.
This section applies to listed companies with stockholders' equity of less than US$4.0 million that have reported net losses in three of their four most recent fiscal years. The notice highlights significant financial challenges and potential risks to the company's listing status.
The company is now required to submit a plan to NYSE American outlining how it intends to regain compliance with these listing standards. This development introduces uncertainty regarding Ryde's future on the exchange.
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