- Delisting will not affect the company’s day-to-day business operations or relationships with partners or employees
- DMS will continue as a public company
- The Company’s Class A common stock is expected to continue to trade on the over-the-counter market
CLEARWATER, Fla., Sept. 25, 2023 (GLOBE NEWSWIRE) — Digital Media Solutions, Inc. (NYSE: DMS) (“DMS” or the “Company”) today announced that it will withdraw from the New York Stock Exchange Delisted (“New York Stock Exchange”). The NYSE determined that the company did not meet the NYSE’s continued listing standards under Rule 802.01B of the NYSE Listed Company Manual, which requires listed companies to maintain at least $15 million in equity over a 30-year period. The global average market capitalization, and the company was subsequently delisted. trading day.
The company’s delisting will not affect the company’s business operations, and DMS will continue to focus on core solutions serving its advertising clients. Additionally, the delisting will not result in an event of default under the senior secured credit facility to which its subsidiaries are party, and DMS continues to receive support from its lenders, as evidenced by a recent amendment to its credit facility, which provided that the company and management Layers provide the flexibility needed to manage the current environment.
The Company will continue to be a U.S. Securities and Exchange Commission (“SEC”) reporting company and expects to begin trading on the over-the-counter market on September 26, 2023 for its Class A common stock. The company will consider relisting its Class A common stock. Common shares may be listed on a national securities exchange in the future if the Board of Directors determines that doing so is in the best interests of the Company and its stakeholders.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is made pursuant to the provisions of the Private Securities Litigation Act of 1995 The “safe harbor” provisions of the Reform Act. DMS’s actual results may differ from its expectations, estimates and projections and, accordingly, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements are often identified by words such as “anticipate,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will” and other similar terms. “could,” “should,” “believe,” “predict,” “potential,” “continue,” and similar expressions. These forward-looking statements include, but are not limited to, DMS’s expectations for its and ClickDealer’s future performance and its ability to implement its strategies, and are based on the beliefs and expectations of our management team based on information available at the time such statements are made. These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from anticipated results. Most of these factors are beyond DMS’s control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (1) the impact of delisting from the New York Stock Exchange, including the impact on our relationships with third parties and employees; (2) the off-market status of our Class A common stock whether the trading market will develop or continue; (3) our ability to satisfy any requirements of any stock exchange for the future listing of our securities; (4) our ability to obtain the expected financial benefits from the ClickDealer transaction; (5) our acquisition of ClickDealer any impact on the business, (6) the COVID-19 pandemic or other public health crises; (7) managing our international expansion as a result of the acquisition of ClickDealer; (8) changes in customer demand for our services and our adaptation to this the ability to change; (9) new competitors enter the market; (10) the ability to maintain and attract consumers and advertisers in the face of changing economic or competitive conditions; (11) maintain, grow and protect DMS from consumption the ability to obtain data from advertisers and advertisers and ensure compliance with new data privacy regulations entering the market; (12) The performance of DMS’s technical infrastructure; (13) The ability to protect DMS’s intellectual property; (14) The successful sourcing, completion and The ability to integrate acquisitions; (15) The ability to improve and maintain adequate internal controls over financial and management systems and correct material deficiencies therein, including any integration of ClickDealer’s business; (16) Changes in applicable laws or regulations and maintaining compliance (17) Our debt levels are relatively high; (18) Fluctuations in the trading prices of our common stock and warrants; (19) Fluctuations in the value of the Company’s private placement warrants; (20) Our filings with the SEC and other risks and uncertainties identified from time to time in filings, including under “Risk Factors” in DMS’s Annual Report on Form 10-K/A for the year ended December 31, 2022, filed in April 2023 December 5, 2022 (the “2022 Form 10-K/A”) and our subsequent filings with the SEC. There may be other risks that we consider immaterial or unknown, and it is not possible to predict or identify all such risks. DMS cautions that the factors listed above are not exclusive. DMS cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. DMS disclaims or accepts no obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any changes in its expectations or any changes in events, conditions or circumstances on which any such statements are based.
Digital Media Solutions, Inc. (NYSE: DMS) is a leading provider of data-driven, technology-enabled digital performance advertising solutions that connect consumers and advertisers in the automotive, home, health and life insurance and… Long list of top consumers connected. vertical. DMS first-party data assets, proprietary ad technology, significant proprietary media distribution and data-driven processes help digital advertisers reduce ad spend risk while growing their customer base. For more information, please visit https://digitalmediasolutions.com.
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