NYSE to Commence Delisting Proceedings Against Cano Health, Inc. (CANO)
NEW YORK, February 05, 2024--(BUSINESS WIRE)--The New York Stock Exchange LLC ("NYSE" or "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A common stock of Cano Health, Inc. (the "Company") — ticker symbol CANO — from the NYSE. Trading in the Company’s Class A common stock will be suspended immediately.
NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after the Company’s February 4, 2024 press release that the Company has initiated prearranged voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. In reaching its delisting determination, NYSE Regulation noted that the Restructuring Support Agreement that Company entered into with its lenders provides for the conversion of nearly $1 billion in secured debt to a combination of new debt and full equity ownership in the reorganized company.
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 Company’s Class A common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
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Contacts
Company Contacts:
Investor Contact
Cano Health IR
investors@canohealth.com
NYSE Contact:
NYSE Communications
PublicRelations-NYSE@ice.com
