Bright Health faces possible New York Stock Exchange delisting

Bright Health Group has been warned by the New York Stock Exchange that it might be delisted after the company's average closing price  fell below the $1 per share threshold, the Star Tribune reported Dec. 12.

The payer received the notice after its average stock price failed to meet the threshold for the 30-day trading period that ended Dec. 2, according to the report. It has six months to regain compliance from the receipt of the Dec. 6 notice. 

The company went public in June 2021 at $18 per share, according to the report. The stock has since lost 95 percent of its value. On Dec. 12, the stock closed at 87 cents a share.

Bright Health said in a statement that it "intends to consider available alternatives, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the company's next annual meeting of stockholders, if necessary, to regain compliance," according to the report.

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