Business Context and Reporting Period
Company: Grove Collaborative Holdings, Inc. (NYSE: GROV)
Filing Type: Form 8-K (Current Report)
Date of Report: May 15, 2025
Reporting Period: Event-based report regarding regulatory compliance status.
Key Financial Metrics
This filing does not contain specific financial statements, revenue, profit, cash flow, or debt figures. The report focuses on regulatory compliance thresholds rather than operational performance metrics.
- Market Capitalization Requirement: Average of $50.0 million over a consecutive 30 trading-day period (Company is currently non-compliant).
- Stockholders' Equity Requirement: Not less than $50.0 million (Company is currently non-compliant).
Material Changes
On May 15, 2025, the Company received a formal notice from the New York Stock Exchange (NYSE) indicating non-compliance with Section 802.01B of the NYSE Listed Company Manual. This marks a material change in the Company's listing status, triggering specific remediation procedures.
Outlook, Management Commentary, and Risks
Management Action Plan: The Company must submit a business plan within 45 days of the notice (by approximately June 29, 2025) demonstrating how it expects to regain compliance within 18 months.
Current Listing Status: The notice has no immediate effect on the listing of the Company's securities; the stock remains listed subject to the Company's compliance with other requirements.
Risks and Contingencies: Failure to submit an acceptable plan or regain compliance within the 18-month window could result in delisting from the NYSE.
Investor Verification Checklist
- Verify the Company's current average market capitalization over the most recent 30 trading days.
- Review the most recent 10-Q or 10-K to confirm current stockholders' equity levels.
- Monitor the submission of the required business plan to the NYSE within the 45-day deadline.
- Track the Company's stock price volatility and trading volume as it attempts to meet the $50 million market cap threshold.