LANNETT ANNOUNCES RECEIPT OF NOTICE OF NON-COMPLIANCE FROM NYSE | Information

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TREVOSE, Pa., March 4, 2022 /PRNewswire/ — Lannett Firm, Inc. (NYSE: LCI) right this moment introduced that it has obtained written discover from the New York Inventory Change (NYSE) dated March 2, 2022, notifying the corporate that it’s not in compliance with the continued itemizing requirements set forth in Part 802.01B of the NYSE Listed Firm Guide as a result of its common market capitalization has been lower than $50 million over a consecutive 30 trading-day interval, and on the similar time its final reported stockholders’ fairness was beneath $50 million.

In accordance with NYSE procedures, the corporate has notified the NYSE that it’s going to submit a marketing strategy inside 45 days from its receipt of the Discover demonstrating the way it intends to regain compliance with the NYSE’s continued itemizing requirements inside 18 months of the date of the Discover. The NYSE will then overview the marketing strategy.

The Discover has no speedy influence on the itemizing of the corporate’s shares of frequent inventory, which can proceed to commerce on the NYSE, topic to its continued compliance with the plan and different NYSE continued itemizing requirements.

About Lannett Firm, Inc.:

Lannett Firm, based in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical merchandise for a variety of medical indications. For extra data, go to the corporate’s web site at www.lannett.com.

This information launch incorporates sure statements of a forward-looking nature regarding future occasions or future enterprise efficiency. Any such assertion, together with, however not restricted to, the corporate’s potential to satisfy the requirements vital to take care of itemizing of its shares of frequent inventory on the NYSE, together with its potential to treatment non-compliance with the NYSE’s continued itemizing standards; the NYSE’s acceptance of the corporate’s marketing strategy, whether or not expressed or implied, is topic to market and different situations, and topic to dangers and uncertainties which might trigger precise outcomes to vary materially from these at the moment anticipated attributable to quite a few elements which embody, however should not restricted to, the chance elements mentioned within the Firm’s Type 10-Okay and different paperwork filed with the SEC sometimes, together with the prospectus complement associated to the proposed providing to be filed with the SEC. These forward-looking statements symbolize the Firm’s judgment as of the date of this information launch. The Firm disclaims any intent or obligation to replace these forward-looking statements.

Contact:   

Robert Jaffe

Robert Jaffe Co., LLC

(424) 288-4098

Cision View authentic content material to obtain multimedia:https://www.prnewswire.com/news-releases/lannett-announces-receipt-of-notice-of-non-compliance-from-nyse-301496108.html

SOURCE Lannett Firm, Inc.



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