NEW YORK - Cano Health, Inc. is facing delisting proceedings for its warrants on the New York Stock Exchange (NYSE), following a decision made today by NYSE Regulation. The regulatory body cited "abnormally low" prices as the reason for its action, which falls under Section 802.01D of the Listed Company Manual.
The affected securities are warrants traded under the symbol CANO/WS, which allow holders to purchase one share of Cano Health's Class A common stock at a price of $1,150 per share. In response to this determination, the NYSE has immediately suspended trading of these warrants. However, it is important to note that trading in Cano Health's Class A common stock will continue unaffected under the ticker symbol CANO.
Cano Health has the right to review this decision and may present its case before a Committee of the NYSE Board of Directors. The company's next steps could include an appeal process. Once all necessary procedures have been completed, including any appeal that Cano Health might pursue, an application will be filed with the Securities and Exchange Commission (SEC) to formally delist the warrants.
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