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Solo Brands, Inc. Class A Common Stock to be Reinstated on the NYSE
Globenewswire· 2025-07-14 22:36
Core Viewpoint - The NYSE has lifted the trading suspension of Solo Brands' Class A common stock, allowing it to resume trading on July 18, 2025, under the symbol "DTC" [1][2]. Group 1: Trading Resumption - The trading of Solo Brands' Class A common stock on the NYSE is expected to resume on July 18, 2025, after the withdrawal of the delisting determination by NYSE Regulation [1]. - The company will update its ticker symbol to "SBDS" effective July 24, 2025, while the CUSIP number will remain unchanged [3]. Group 2: Compliance and Financial Status - Despite a reverse stock split that raised the stock price above $1.00 on July 9, 2025, the company is not currently in compliance with NYSE's continued listing standards due to an average closing price of less than $1.00 over a consecutive 30 trading-day period [2]. - The company has until August 25, 2025, to regain compliance with the minimum share price requirement, which can be achieved if the stock closes at least $1.00 on the last trading day of any calendar month during the cure period [2]. Group 3: Company Overview - Solo Brands, headquartered in Grapevine, TX, operates as an omnichannel lifestyle brand company, offering innovative products through five lifestyle brands: Solo Stove, TerraFlame, Chubbies, ISLE, and Oru Kayak [4].
Solo Brands, Inc. Appoints John Larson as Chief Executive Officer; Company Completes Comprehensive Debt Restructuring
Globenewswire· 2025-06-16 12:10
Core Insights - Solo Brands, Inc. has appointed Mr. John P. Larson as the permanent President and CEO, effective immediately, indicating a strong leadership transition [1] - The company has successfully completed a comprehensive debt restructuring, enhancing its financial flexibility and supporting its strategic transformation plans [2][3] Financial Restructuring - The Amendment to the Credit Agreement, effective June 13, 2025, includes a revolving credit facility of $90 million and a new term loan facility of $240 million [5] - The company has paid down $136.5 million of revolving loans and $32.5 million of existing term loans, resulting in total outstanding debt of $19.7 million under the revolving facility and $240 million under the new term loan as of June 13, 2025 [5] - The maturity of the revolving loans and new term loans has been extended to June 30, 2028, providing a longer financial runway for the company [5] Strategic Vision - The company aims to leverage its strong brand recognition and turnaround efforts to stabilize and transform its business, supported by a well-aligned team and board [4] - The successful debt restructuring is viewed as a significant step forward in executing the company's multi-year transformational growth strategy [3]
Solo Brands, Inc. Fiscal 2025 First Quarter Financial Results To Be Released Monday, May 12, 2025
Globenewswire· 2025-05-07 20:00
Core Viewpoint - Solo Brands, Inc. plans to report its fiscal 2025 first quarter financial results on May 12, 2025, before the market opens, and will hold a conference call to discuss its strategy and financial results [1]. Group 1 - The conference call is scheduled to begin at 9:00 a.m. ET, and investors and analysts can join by dialing the provided numbers [2]. - A recorded replay of the call will be available shortly after its conclusion and will remain accessible until May 19, 2025 [3]. Group 2 - Solo Brands is headquartered in Grapevine, TX, and operates as an omnichannel lifestyle brand company, offering products through five brands: Solo Stove, TerraFlame, Chubbies, ISLE, and Oru Kayak [4].