Fresh vine wine, inc. receives acceptance letter from nyse american

Charlotte, n.c., nov. 27, 2023 (globe newswire) -- on november 21, 2023, fresh vine wine inc. (nyse american: vine) (the “company”) received notification (the “acceptance letter”) from nyse american llc (“nyse american”) that the company's plan to regain compliance with nyse american's listing standards was accepted. as previously disclosed, on september 8, 2023, the company received notice from nyse american stating that the company was not in compliance with the $4.0 million stockholders' equity requirement of section 1003(a)(ii) of the nyse american company guide (the “company guide”). that section applies if a listed company has stockholders' equity of less than $4 million and has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. the company reported stockholders' equity of $2.4 million as of june 30, 2023, the end of its second fiscal quarter of 2023, and has had losses from continuing operations and/or net losses in each of its fiscal years ended december 31, 2020, 2021 and 2022. as required by nyse american, the company submitted a plan to nyse american advising of actions it has taken or will take to regain compliance with the continued listing standards march 8, 2025.
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