Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On July 7, 2020, Town Sports International Holdings, Inc. (the "Company")
received a notification letter from the Listing Qualifications Department of
Nasdaq indicating that as a result of the Company's failure to timely file its
Quarterly Report on Form 10-Q for the period ended March 31, 2020 (the
"Report"), the Company no longer complies with the continued listing
requirements as set forth in Nasdaq Listing Rule 5250(c)(1).
The notification letter advises that under Nasdaq rules, the Company has 60
calendar days, or until September 8, 2020, to submit a plan to regain compliance
with Nasdaq's continued listing requirements. If Nasdaq accepts the plan, Nasdaq
can grant an exception of up to 180 calendar days from the filing due date,
until December 28, 2020, to regain compliance. If Nasdaq does not accept the
plan, the Company will have the opportunity to appeal that decision to a Nasdaq
Hearings Panel.
The Company's management is working diligently to complete the Report and
intends to file it as soon as practicable.
Item 7.01 Regulation FD Disclosure.
On July 13, 2020, the Company issued a press release regarding the matters
described in Item 3.01 above. A copy of the press release is being furnished as
Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K furnished pursuant to this Item 7.01 shall not be
deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release issued by Town Sports International Holdings, Inc. on
July 13, 2020.
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