Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
In accordance with Section 802.02 of the NYSE Listed Company Manual ("Section 802.02"), the Company intends to contact the NYSE within 10 days of its receipt of the Notice to confirm receipt of the Notice and confirm that it intends to present to the NYSE a plan detailing actions the Company has taken, or will take, to bring it into conformity with continued listing standards within 18 months of receipt of the Notice (the "Cure Period"). Pursuant to Section 802.02, the Company has 45 days from receipt of the Notice to submit its plan. The Company intends to develop and submit such plan within the required timeframe. If the NYSE accepts the plan, the Company will be subject to quarterly monitoring by the NYSE for compliance with the plan.
The Company's common stock will continue to trade under the symbol "GLS," but will have an added designation of ".BC" to indicate that the Company is not currently in compliance with NYSE continued listing standards.
In the event that the Company fails to regain compliance with the NYSE continued listing standards, the Company's common stock will be subject to NYSE's suspension and delisting procedures.
Item 7.01 Regulation FD Disclosure
As required by Section 802.02, the Company issued a press release on
The information furnished pursuant to this Item 7.01 and Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
Exhibit Description Number 99.1 Press Release datedNovember 18, 2022 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Forward-Looking Statements
Certain statements, estimates, targets and projections in this Current Report on
Form 8-K may constitute "forward-looking statements" within the meaning of the
federal securities laws. The words "anticipate," "believe," continue," "could,"
"estimate," "expect," "intend," "may," "might," "plan," "possible," "potential,"
"predict," "project," "should," "strive," "would" and similar expressions may
identify forward-looking statements, but the absence of these words does not
mean that statement is not forward looking. Forward-looking statements are
predictions, projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are subject to risks
and uncertainties. Forward-looking statements include, but are not limited to,
statements regarding the Company's or its management team's expectations, hopes,
beliefs, intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts, or other characterizations of
future events or circumstances, including any underlying assumptions, are
forward-looking statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and the Company assumes no obligation and does not
intend to update or revise these forward-looking statements, whether as a result
of new information, future events, or otherwise. the Company gives no assurance
that any expectations set forth in this Current Report on Form 8-K will be
achieved. Various risks and uncertainties (some of which are beyond the
Company's control) or other factors could cause actual future results,
performance or events to differ materially from those described herein. Some of
the factors that may impact future results and performance may include, without
limitation: the Company's ability to regain compliance with the continued
listing standards of the NYSE within the applicable cure period, the Company's
ability to continue to comply with applicable listing standards of the NYSE, and
other important factors discussed in the "Risk Factors" section of the Company's
most recent Annual Report on Form 10-K and in other filings that the Company
makes with the
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