LightInTheBox Receives Non-compliance Letter from NYSE Regarding Market Capitalization

SINGAPORE, Jan. 24, 2025 /PRNewswire/ -- LightInTheBox Holding Co., Ltd. (NYSE: LITB) ("LightInTheBox" or the "Company"), a global online retailer focusing on proprietary apparel brands and design-driven collections tailored to evolving consumer preferences, today announced that it has received a letter from the New York Stock Exchange (the "NYSE") dated December 26, 2024 (the "Notice"), notifying that the Company is "below criteria" due to its average total market capitalization being less than $50 million over a 30 trading-day period and its stockholders' equity being less than $50 million pursuant to Section 802.01B of the NYSE Listed Company Manual.

The Company intends to take steps to remedy the deficiency in a timely manner. The Company notified the NYSE on January 3, 2025 of its intention to cure such deficiency. In accordance with NYSE listing requirements, the Company has 90 calendar days from the receipt of the Notice to respond with a business plan that demonstrates compliance with this continued listing standard within 18 months of receipt of the Notice. The NYSE will review the Company's business plan and make a determination as to whether the Company has made a reasonable demonstration of its ability to come into conformity with Section 802.01B within 18 months. If the NYSE accepts the business plan, the Company's ADSs will continue to be listed and traded on the NYSE during the 18-month period, subject semi-annual review by the NYSE of the Company's compliance with such business plan. If the Company's business plan is not accepted, the NYSE will initiate delisting proceedings. The Company is currently evaluating its available options and developing a plan to regain compliance with Section 802.01B.

The Notice has no immediate impact on the listing of the Company's ADSs, which will continue to be listed and traded on the NYSE, subject to compliance with other continued listing requirements of the NYSE. The Company is currently in compliance with all other NYSE continued listing standards. The NYSE notification does not affect the Company's business operations or its SEC reporting requirements.

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