Aankondiging • Jul 30
Pinstripes Holdings Inc. announced delayed annual 10-K filing On 07/29/2025, Pinstripes Holdings Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Aankondiging • Jul 26
Pinstripes Holdings Files Form 15 Pinstripes Holdings Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its class A common stock, par value $0.0001 per share, warrants exercisable for one share of class A common stock at an exercise price of $11.50 per share under the Securities Exchange Act of 1934, as amended. Aankondiging • Mar 07
NYSE to Commence Delisting Proceedings Against Pinstripes Holdings The New York Stock Exchange (“NYSE”, the “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A common stock of Pinstripes Holdings Inc. (the “Company”) — ticker symbol PNST — from the NYSE. Trading in the Company’s Class A common stock will be suspended immediately. NYSE Regulation reached its decision to delist the Company’s Class A common stock pursuant to Section 802.01B of the NYSE’s Listed Company Manual because the Company had fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s Class A common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. Aankondiging • Mar 02
Pinstripes Holdings Inc. Appoints Caitlin Schaefer as Chief Accounting Officer, Effective March 1, 2025 On February 25, 2025, the Board appointed Caitlin Schaefer as Chief Accounting Officer and will serve as the Company's interim principal financial officer and principal accounting officer, effective March 1, 2025 (the Effective Date"). Since January 2024, Ms. Schaefer has served as the Company's Corporate Controller, whereby she oversaw and managed the Company's financial reporting and accounting functions, and she served as the Company's Assistant Controller from September 2023 to January 2024. Prior to joining the Company, Ms. Schaefer served as Director of Accounting and External Reporting at Mondelez International Inc. from May 2022 to August 2023. Prior to that, Ms. Schaefer served as Assurance Senior Manager at Ernst & Young LLP (EY") from October 2017 to May 2022. From 2009 to 2017, Ms. Schaefer held several positions of increasing responsibility with EY. Ms. Schaefer is a Certified Public Accountant and holds a Bachelor of Science in Accounting from Miami University. New Risk • Feb 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$8.21m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$52m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-US$79m). Earnings are forecast to decline by an average of 36% per year for the foreseeable future. Market cap is less than US$10m (US$8.21m market cap). Minor Risk Currently unprofitable and not forecast to become profitable next year (US$36m net loss next year). Aankondiging • Feb 21
Pinstripes Holdings Inc. Announces Resignation of Tony Querciagrossa as CFO, Effective Date February 28, 2025 Pinstripes Holdings Inc. announced resignation of Tony Querciagrossa as CFO, Effective date is February 28, 2025 to pursue other opportunities outside the restaurant/entertainment industry. To ensure a smooth transition, Mr. Querciagrossa will assist the Company as need be for a period thereafter. The Company has commenced a search for a new Chief Financial Officer. Aankondiging • Feb 18
Pinstripes Holdings Inc. to Report Q3, 2025 Results on Feb 19, 2025 Pinstripes Holdings Inc. announced that they will report Q3, 2025 results After-Market on Feb 19, 2025 New Risk • Feb 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$52m free cash flow). Negative equity (-US$79m). Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$35m net loss next year). Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (US$22.3m market cap). Major Estimate Revision • Nov 29
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$146.6m to US$135.1m. Losses expected to increase from US$0.70 per share to US$0.81. Hospitality industry in the US expected to see average net income growth of 26% next year. Consensus price target down from US$4.50 to US$2.50. Share price fell 9.5% to US$0.77 over the past week. Aankondiging • Nov 12
Pinstripes Holdings Inc. to Report Q2, 2025 Results on Nov 26, 2024 Pinstripes Holdings Inc. announced that they will report Q2, 2025 results After-Market on Nov 26, 2024 Aankondiging • Oct 23
Pinstripes Receives Notice of Non-Compliance with NYSE Listing Rules; Intends to Cure the Deficiencies Pinstripes Holdings Inc. announced that it received notice from the New York Stock Exchange (the NYSE") on October 16, 2024 that it is not in compliance with Sections 802.01B and 802.01C of the NYSE Listed Company Manual because, as of October 16, 2024, the average market capitalization of the Company was less than $50 million over a consecutive 30 trading-day period, and, at the same time, the average closing price of the Company's common stock was less than $1.00 over a consecutive 30 trading day period. The notice does not result in the immediate delisting of the Company's common stock from the NYSE. The Company plans to submit a plan to the NYSE on or before November 30, 2024, that is intended to cure the market capitalization and stock price deficiencies and to return the Company to compliance with the NYSE continued listing standards. The Company can regain compliance at any time within the six-month period with respect of the minimum average share price deficiency if following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. The NYSE will have 45 days after the receipt of the plan to review and determine whether the Company has made a reasonable demonstration of its ability to regain compliance with the minimum average market capitalization standard within the 18-month cure period. The NYSE will either accept the plan, at which time the Company would be subject to ongoing monitoring for compliance with the plan, or the NYSE will not accept the plan, and the Company would be subject to suspension and delisting procedures. If the NYSE accepts the plan and the Company satisfies the minimum average market capitalization standard, the Company's Class A common stock will continue to be listed and traded on the NYSE during the 18-month cure period, subject to the Company's compliance with other continued listing standards, including the minimum average share price standard, and the Company will be subject to quarterly monitoring by the NYSE for compliance with the plan. Under the NYSE's rules, if the Company determines that, if necessary, it will cure the market capitalization and stock price deficiencies by taking an action that will require stockholder approval, it must so inform the NYSE in the above referenced notification and the market capitalization and price conditions will be deemed cured if the market capitalization promptly exceeds $50 million and the price promptly exceeds $1.00 per share, and the price remains above that level for at least the following 30 trading days. The Company intends to consider available alternatives, including but not limited to a reverse stock split, that are subject to shareholder approval. The notice has no immediate impact on the listing of the Company's common stock. The Company will continue to file periodic and other reports with the Securities and Exchange Commission under applicable federal securities laws. New Risk • Sep 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$52m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-US$79m). Earnings are forecast to decline by an average of 31% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (353% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$29m net loss next year). Market cap is less than US$100m (US$84.0m market cap). Reported Earnings • Sep 06
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.23 loss per share. Revenue: US$30.6m (up 19% from 1Q 2024). Net loss: US$10.0m (loss widened 117% from 1Q 2024). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 92%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Aankondiging • Sep 05
Pinstripes Holdings Inc. Updates Earnings Guidance for the Fiscal Year 2025 Pinstripes Holdings Inc. updated earnings guidance for the fiscal year 2025. For the year, the company expects Same Store Sales Growth Negative low single digit to Positive low single digit. Aankondiging • Aug 26
Pinstripes Holdings Inc., Annual General Meeting, Oct 07, 2024 Pinstripes Holdings Inc., Annual General Meeting, Oct 07, 2024. Location: 1150 willow road, northbrook, United States Aankondiging • Aug 21
Pinstripes Holdings Inc. to Report Q1, 2025 Results on Sep 04, 2024 Pinstripes Holdings Inc. announced that they will report Q1, 2025 results After-Market on Sep 04, 2024 New Risk • Jul 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 23% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$55m free cash flow). Negative equity (-US$69m). Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (257% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$16m net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Jun 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$0.17 loss per share (improved from US$1.21 loss in FY 2023). Revenue: US$118.7m (up 6.7% from FY 2023). Net loss: US$6.79m (loss narrowed 9.8% from FY 2023). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Aankondiging • Jun 28
Pinstripes Holdings Inc. Provides Earnings Guidance for Fiscal 2025 Pinstripes Holdings Inc. provided earnings guidance for Fiscal 2025. For the period, the company expects Same Store Sales Growth to be Low single digits. Aankondiging • Jun 15
Pinstripes Holdings Inc. to Report Q4, 2024 Results on Jun 27, 2024 Pinstripes Holdings Inc. announced that they will report Q4, 2024 results After-Market on Jun 27, 2024 New Risk • Apr 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 257% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$60m). Earnings are forecast to decline by an average of 39% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (257% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$55m). Currently unprofitable and not forecast to become profitable over next 2 years (US$20m net loss in 2 years). Share price has been volatile over the past 3 months (12% average weekly change). Recent Insider Transactions • Feb 28
Chief Financial Officer recently bought US$343k worth of stock On the 26th of February, Anthony Querciagrossa bought around 100k shares on-market at roughly US$3.43 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Anthony's only on-market trade for the last 12 months. New Risk • Feb 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$33m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-US$46m). Earnings are forecast to decline by an average of 6.7% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$22m net loss in 2 years). Shareholders have been diluted in the past year (28% increase in shares outstanding). Aankondiging • Feb 22
Pinstripes Holdings Inc. Provides Earnings Guidance for Fourth Quarter Fiscal 2024 Pinstripes Holdings Inc. provided earnings guidance for Fourth Quarter Fiscal 2024. For the period, company expects Same Store Sales Growth to be Low single digits. New Risk • Jan 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$33m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-US$46m). Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$23m net loss next year). Shareholders have been diluted in the past year (27% increase in shares outstanding). Aankondiging • Jan 21
Pinstripes Holdings Inc. to Report Q3, 2024 Results on Feb 21, 2024 Pinstripes Holdings Inc. announced that they will report Q3, 2024 results on Feb 21, 2024