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Ra Medical Systems Receives NYSE Failure to Satisfy a Continued Listing Rule Notification

Ra Medical Systems Inc., a medical device company focusing on commercializing excimer laser systems to treat vascular and dermatological diseases,  announced that on Dec. 4  it received a notice from the New York Stock Exchange  that it is not in compliance with a NYSE continued listing requirement for maintaining an average total market capitalization of not less than $50 million over a period of 30 consecutive trading days and having stockholders’ equity of not less than $50 million.


The Company intends to submit a plan within 45 days of the notice to the NYSE advising how the Company plans to regain compliance with the continued listing standards within 18 months of the receipt of the notice.


If NYSE does not accept the plan or the Company is not in compliance with the continued listing standards at the end of such 18 month cure period, or does not make progress consistent with the plan, NYSE may initiate delisting procedures. The NYSE notification does not affect the Company’s business operations or its Securities and Exchange Commission reporting requirements.


During this period, the Company’s common stock will continue to be traded on the NYSE, subject to compliance with other continued NYSE listing requirements.

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Larry Storer

Larry Storer

Larry Storer has been editor of Vein Therapy News for 10 years. He has edited computer, shelter and medical publications at Publications & Communications LP for 30 years. He was also a corporate vice president and editorial director before retiring. Larry graduated from Baylor University with a BA in journalism and an MA in communications; and from Lamar University with a MED in school administration. He taught beginning and advanced reporting, beginning and advanced editing and editorial writing at Baylor University. Larry was a reporter, and city and news editor of the Beaumont Journal, and opinion editor at the Beaumont Enterprise and Beaumont Enterprise-Journal. He was also the founding managing editor of the Yuba City (California) Daily Independent-Herald.