Invacare receives notice of noncompliance 

ELYRIA, Ohio – Invacare announced on Sept. 29 that it has received notice from the New York Stock Exchange that the company is not in compliance because the average closing price of the company’s common shares was less than $1 per share over a consecutive 30 trading-day period. 

The notice does not result in the immediate delisting of the company’s common shares from the NYSE. 

Invacare plans to notify the NYSE by Oct. 7 that it intends to cure the stock price deficiency and return to compliance with the NYSE continued listing standard. The company can regain compliance at any time within the six-month period following receipt of the notice if on the last trading day of any calendar month during the six-month period the company has a closing share price of at least $1 and an average closing share price of at least $1 over the 30 trading-day period ending on the last trading day of that month. 

The company intends to consider available alternatives, including, but not limited to, a reverse stock split, subject to shareholder approval no later than at its next annual meeting of shareholders if necessary to cure the stock price non-compliance. Under the NYSE’s rules, if the company determines that it will cure the stock price deficiency by taking an action that will require shareholder approval at its next annual meeting of shareholders, the price condition will be deemed cured if the price promptly exceeds $1 per share and the price remains above that level for at least the following 30 trading days. 

Invacare’s common shares will continue to be listed and traded on the NYSE during this period, subject to the company’s compliance with other NYSE continued listing standards. 

Invacare’s stock opened on Sept. 30 at $0.78.