RCS Capital Corporation Receives a Continued Listing Standard Letter from the NYSE

Nov 12, 2015, 06:00 ET from RCS Capital Corporation

NEW YORK, Nov. 12, 2015 /PRNewswire/ -- RCS Capital Corporation ("RCS Capital" or the "Company") (NYSE: RCAP) announced today that it has been notified by the New York Stock Exchange ("NYSE") on November 10, 2015 that its Class A common stock did not satisfy one of the NYSE standards for continued listing. The NYSE requires that the average closing price per share of a listed company be in excess of $1.00 for a consecutive 30-trading-day period. On November 6, 2015, the average closing price per share of the Company's Class A common stock during the preceding 30-trading-day period was below the $1.00 requirement.

Under the NYSE rules, the Company has a period of six months following receipt of the notification, subject to possible extension, to bring its average share price back to $1.00. Notwithstanding the NYSE notification, the Company's Class A common stock will continue to be listed and traded on the NYSE during this period. The Company intends to notify the NYSE that it anticipates that this deficiency will be cured and that it will return to compliance with the NYSE continued listing standard, and the NYSE has agreed to work with the Company through its initiatives.

About RCS Capital

RCS Capital Corporation (NYSE: RCAP) is a full-service investment firm expressly focused on the individual retail investor. With operating subsidiaries including retail advice services, investment banking, capital markets, investment research, and, until the completion of recently announced pending sales, wholesale distribution and investment management, RCS Capital's business is designed to capitalize, support, grow and maximize value for the investment programs it distributes and the independent advisors and clients it serves. Additional information about RCS Capital can be found on its website at www.rcscapital.com. RCS Capital may disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn and Twitter.

Important Notice

The statements in this press release include statements regarding the intent, belief or current expectations of RCS Capital and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should," "look forward" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements due to certain factors, including RCS Capital's ability to satisfy the NYSE minimum share price requirement. Additional factors that may affect future results are contained in RCS Capital's filings with the SEC, which are available at the SEC's website at www.sec.gov. Further, forward-looking statements speak only as of the date they are made, and RCS Capital undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law. 

Media Inquiries:

Investor Inquiries:

Jonathan Keehner

Mahmoud Siddig

Joele Frank, Wilkinson Brimmer Katcher



(212) 355-4449

Andrew G. Backman

Managing Director

Investor Relations and Public Relations

RCS Capital Corporation


(917) 475-2135

Brian D. Jones

Chief Financial Officer

RCS Capital Corporation


(646) 937-6903


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SOURCE RCS Capital Corporation