Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On
The Notice has no immediate effect on the listing or trading of the Company's
Class A common stock on the Nasdaq Global Market, and the Company's Class A
common stock will continue to trade under the symbol "CYXT". In accordance with
Nasdaq Listing Rules, the Company has 45 calendar days from the date of the
Notice to submit a plan to regain compliance. The Company intends to submit a
compliance plan within 45 days of the date of the Notice. If the Company's
compliance plan is accepted, the Company may be granted up to 180 calendar days
from
The Company's board of directors is currently seeking to appoint new independent directors who will also qualify under the Nasdaq Listing Rules to serve as members of the audit committee and intends to regain compliance with the Nasdaq Listing Rules as soon as practicable.
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