SmartRent, Inc. announced that it received a notice from the New York Stock Exchange (NYSE) on May 2, 2025, indicating non-compliance with Section 802.01C of the NYSE Listed Company Manual. The non-compliance stems from the company's average closing share price falling below $1.00 over a consecutive 30 trading-day period.
The company has a six-month period to regain compliance, which may involve a reverse stock split if necessary, subject to board and stockholder approval. During this cure period, SmartRent's Class A common stock will continue to be listed and traded on the NYSE, provided it complies with other listing standards.
This notice highlights a significant risk for investors, as failure to regain compliance could lead to the suspension and delisting of the company's stock. SmartRent stated its intention to monitor its share price and evaluate options to resolve the deficiency and maintain its NYSE listing.
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