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$Rubicon Technologies (RBT.US)$ What a shame that this is so...
$Rubicon Technologies (RBT.US)$ What a shame that this is so undervalued! (© Reuters. Rubicon Technologies' warrants are currently under delisting proceedings initiated by NYSE Regulation on Monday. The action was prompted due to the "abnormally low" price levels of the warrants, each exchangeable for one share of Class A common stock at a $92.00 exercise price, according to Section 802.01D of the Listed Company Manual. Trading of the warrants was immediately suspended following this decision, although Rubicon's Class A common stock (NYSE:RBT) continues to be traded on the NYSE. The company has been given the right to appeal this decision to the NYSE's Committee of the Board of Directors. Alexandra Clark, Rubicon's Finance & Investor Relations Director, is expected to provide further insights into this development. Following the completion of all relevant procedures, including any potential appeal by Rubicon, NYSE Regulation plans to request the Securities and Exchange Commission for final warrant delisting. This move comes as a part of NYSE Regulation's ongoing efforts to maintain market integrity and protect investors by ensuring that only securities meeting its listing standards are traded on its platform.
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