In This Article:
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Getaround’s common stock is expected to continue to trade on the OTC Markets
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Getaround will continue as a public company and intends to appeal NYSE’s decision
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Delisting does not affect Getaround’s business operations or focus
SAN FRANCISCO, July 10, 2024--(BUSINESS WIRE)--Getaround (NYSE: GETR) ("Getaround" or "The Company") today announced it received notice the New York Stock Exchange ("NYSE") suspended trading of its common stock on the NYSE effective immediately and started the process to delist its common stock from the NYSE. The start of the delisting process follows the NYSE’s determination under Rule 802.01B of the NYSE Listed Company Manual that the Company did not meet the continued listing standard that requires listed companies to maintain an average global market capitalization of at least $15 million over a period of 30 consecutive trading days.
The Company intends to appeal this determination and expects trading of its common stock will resume on the OTC Markets Group platform under its ticker symbol "GETR" on July 10, 2024. If the appeal is successful, NYSE will resume trading Getaround’s common stock. The Company further intends to apply for trading on the OTCQX Best Market as soon as reasonably practicable. Quotes and additional information can be found at otcmarkets.com.
The delisting process does not affect Getaround’s business operations or focus. The Company will remain listed on the NYSE throughout the appeal proceedings and will remain a reporting entity under the Securities Exchange Act of 1934, ensuring continued disclosure of financial and operational information.
About Getaround
Offering a digital experience, Getaround makes sharing cars and trucks simple through its proprietary cloud and in-car Getaround Connect® technology. The company empowers consumers to shift away from car ownership through instant and convenient access to desirable, affordable, and safe cars from entrepreneurial hosts. Getaround’s on-demand technology enables a contactless experience - no waiting in line at a car rental facility, manually completing paperwork or meeting anyone to collect or drop off car keys. Getaround’s mission is to utilize its peer-to-peer marketplace to help solve some of the most pressing challenges facing the world today, including environmental sustainability and access to economic opportunity. Launched in 2011, Getaround is available today in more than 1,000 cities across 8 countries including the United States and Europe. For more information, please visit getaround.com.