Business Context and Reporting Period
SelectQuote, Inc. filed a Form 8-K concerning its continued listing status on the New York Stock Exchange. The earliest reported event occurred on October 20, 2022; the report was signed and the related press release was issued on October 26, 2022.
Financial and Operating Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other operating metrics. It is a listing-compliance disclosure rather than a financial-results report.
Material Change Versus Prior Period
- On October 20, 2022, SelectQuote received an NYSE notice stating that its common stock was not in compliance with Section 802.01C of the NYSE Listed Company Manual.
- The deficiency resulted from the stock’s average closing price being below $1.00 per share over a consecutive 30-trading-day period.
- The common stock remains listed and trading on the NYSE during the cure period, subject to compliance with other continued listing standards.
Guidance, Outlook, Risks, and Unusual Items
- SelectQuote intends to notify the NYSE that it will seek to cure the deficiency and closely monitor its stock price.
- The company has a six-month cure period following receipt of the notice. Compliance may be regained if, on the last trading day of a calendar month during that period, the stock closes at or above $1.00 and maintains an average closing price of at least $1.00 over the preceding 30 trading days.
- If stockholder approval is required for corrective action, the deficiency may be deemed cured if the stock price promptly exceeds $1.00 following that action and remains above that level for at least 30 trading days.
- The company may consider available alternatives to cure the deficiency, but the filing does not identify specific actions or their potential financial effects.
- Key risks include failure to regain compliance within the cure period, continued noncompliance with NYSE standards, and other risks described in the company’s Form 10-K for the year ended June 30, 2022.
Investor Verification Checklist
- Verify the applicable six-month cure-period dates and whether SelectQuote ultimately regained NYSE compliance.
- Monitor the stock’s closing price and 30-trading-day average against the NYSE requirements.
- Review subsequent SEC filings for any stockholder-approved actions, alternative compliance measures, or delisting developments.
- Review the Form 10-K for the year ended June 30, 2022 for financial condition, liquidity, debt, and risk information not included in this 8-K.