Filing Analysis
Grove Collaborative Holdings, Inc. received a notice from the NYSE regarding non-compliance with minimum market capitalization and stockholders' equity requirements. The company must submit a business plan within 45 days to demonstrate a path back to compliance.
🚩 Red Flags
- Delisting notice from NYSE
- Market capitalization below the $50M threshold required for continued listing
- Stockholders' equity below the $50M threshold required for continued listing
📋 Key Facts
- Received NYSE notice on August 7, 2026.
- Non-compliance relates to Section 802.01B of the NYSE Listed Company Manual.
- Failure to maintain an average market capitalization of at least $50.0 million over a consecutive 30 trading-day period.
- Failure to maintain stockholders' equity of at least $50.0 million.
- Company must submit a business plan within 45 days demonstrating compliance within nine months.
Grove Collaborative Holdings announced the resignation of CFO Tom Siragusa, effective August 16, 2026. The filing also reports results from the company's 2026 annual meeting of stockholders, including director elections and auditor ratification.
🚩 Red Flags
- Departure of a key executive (CFO) can create transitional risk and uncertainty in financial leadership.
📋 Key Facts
- CFO Tom Siragusa resigned on June 18, 2026, to pursue another opportunity; departure is not due to disagreements with the company or its accounting practices.
- The resignation will become effective on August 16, 2026.
- Company is initiating a search for a successor CFO.
- Annual meeting held on June 18, 2026; quorum was established with ~76.6% of total voting power represented.
- Three directors (Larry Cheng, Stuart Landesberg, and Kristine Miller) were elected to serve until the 2029 annual meeting.
- Stockholders ratified Baker Tilly US, LLP as independent auditors for fiscal year ending Dec 31, 2026.
Grove Collaborative Holdings, Inc. reported its financial results for the first quarter ended March 31, 2026, and provided an updated investor presentation. The company also formally identified the specific social media channels and websites it will use to disclose material information in compliance with Regulation FD.
📋 Key Facts
- Earnings results were announced on May 7, 2026, for the fiscal quarter ended March 31, 2026.
- An investor presentation was furnished as Exhibit 99.2 and posted to the company's investor relations website.
- The company explicitly listed social media accounts for CEO Jeff Yurcisin (LinkedIn, X, TikTok, Facebook) as official disclosure channels.
- The filing includes Item 2.02 (Results of Operations), Item 7.01 (Regulation FD), and Item 8.01 (Other Events).
Grove Collaborative Holdings, Inc. has regained compliance with the NYSE's quantitative continued listing standards as of March 17, 2026. The company successfully met the minimum market capitalization and stockholders' equity requirements specified in Section 802.01B of the NYSE Listed Company Manual.
🚩 Red Flags
- The company was previously in a state of non-compliance, indicating historical struggles with market valuation or equity levels.
📋 Key Facts
- Notification of compliance received from the NYSE on March 17, 2026.
- The company was previously non-compliant with Section 802.01B regarding market capitalization and stockholders' equity.
- The filing was made under Item 8.01 (Other Events) on March 19, 2026.
Grove Collaborative Holdings, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2025. The filing also includes an updated investor presentation and a formal list of communication channels, including social media, used for Regulation FD disclosures.
📋 Key Facts
- Reported earnings for the fiscal year and quarter ended December 31, 2025, on March 5, 2026.
- Furnished an updated investor presentation (Exhibit 99.2) to be used for management meetings.
- Identified specific social media platforms (X, Instagram, LinkedIn, TikTok, Facebook, Reddit) and CEO Jeff Yurcisin's personal accounts as official disclosure channels.
- The filing was signed by CFO Tom Siragusa.
Grove Collaborative Holdings, Inc. filed an 8-K to announce its quarterly earnings results for the period ended September 30, 2025 and provided an updated investor presentation.
📋 Key Facts
- Company released earnings press release for the quarter ended September 30, 2025 (Exhibit 99.1).
- Company published a new investor presentation on its IR website (Exhibit 99.2).
- The filing was signed by CFO Tom Siragusa on November 13, 2025.
Grove Collaborative Holdings, Inc. announced the appointment of Tom Siragusa as Chief Financial Officer, effective October 1, 2025. Mr. Siragusa transitions from his role as Interim CFO to the permanent CFO position.
🚩 Red Flags
- The appointment follows a period of interim leadership, which can sometimes indicate recent volatility in the finance department, though no specific departure was noted here.
📋 Key Facts
- Tom Siragusa appointed as CFO, effective October 1, 2025.
- Mr. Siragusa has served as Interim CFO since February 16, 2025.
- Annual base salary increased to $320,000.
- Granted 75,000 restricted stock units (RSUs) vesting in twelve equal installments over three years.
- Post-termination benefits agreement includes six months of salary and health coverage if terminated without cause or for good reason.
Grove Collaborative Holdings, Inc. entered into Amendment No. 4 to its existing Asset-Based Lending (ABL) Loan Agreement with Siena Lending Group LLC on September 26, 2025. The amendment expands the borrowing base to include certain credit card receivables.
🚩 Red Flags
- Frequent amendments to existing debt (Amendment No. 4) suggests active management of liquidity and working capital needs.
📋 Key Facts
- Amendment No. 4 to the Loan and Security Agreement was executed on September 26, 2025.
- The amendment involves Borrowers Grove Collaborative Holdings, Inc. and Grove Collaborative, Inc., and Lender Siena Lending Group LLC.
- The primary change is the inclusion of certain credit card receivables in the borrowing base calculation.
- Credit card receivables must meet specified eligibility criteria to be included.
Grove Collaborative Holdings announced a leadership change within its Board of Directors involving the resignation of Audit Committee Chair David Glazer and the appointment of Kathryn Anderson as the new Audit Committee Chair.
🚩 Red Flags
- Resignation of an Audit Committee Chair can sometimes precede internal scrutiny, though the filing explicitly states no disagreements occurred.
📋 Key Facts
- David Glazer resigned from the Board effective August 22, 2025.
- Mr. Glazer served as the chair of the Audit Committee.
- Kathryn Anderson was appointed to the Board (Class III) and named Chairperson of the Audit Committee.
- Ms. Anderson is an independent director with extensive CFO experience at Neiman Marcus Group, Guess?, Inc., California Pizza Kitchen, and Sprinkles Cupcakes.
- The company stated there were no disagreements with Mr. Glazer regarding operations, policies, or practices.
Grove Collaborative Holdings, Inc. filed an 8-K to announce its quarterly earnings results for the period ending June 30, 2025 and provided an updated investor presentation.
🚩 Red Flags
- Interim CFO is currently in office, which may indicate recent management turnover or transition.
📋 Key Facts
- Earnings press release issued on August 7, 2025 for the quarter ended June 30, 2025 (Exhibit 99.1).
- Updated investor presentation posted to the company's IR website (Exhibit 99.2).
- Report signed by Tom Siragusa, Interim Chief Financial Officer.
Grove Collaborative Holdings, Inc. has amended its existing Standby Equity Purchase Agreement (SEPA) with Yorkville Advisors. The amendment extends the commitment period to August 1, 2027, and modifies the pricing mechanism for share issuances.
🚩 Red Flags
- Dilutive pricing mechanism: The shift to using the 'lowest' VWAP in a 3-day window is highly dilutive to existing shareholders as it forces issuance at the lowest point of recent trading.
- Continued reliance on SEPA: Extending an equity purchase agreement suggests ongoing liquidity needs and potential difficulty accessing traditional debt or equity markets.
📋 Key Facts
- Amendment to SEPA executed on July 8, 2025.
- The original agreement (dated July 18, 2022) allowed for up to $100.0 million in share sales.
- Commitment period extended from the previous expiration to August 1, 2027.
- Pricing mechanism changed: 'Market Price' is now defined as the lowest of the daily VWAP over the three consecutive trading days commencing on the notice date, rather than the average VWAP.
Grove Collaborative Holdings, Inc. reported the results of its 2025 annual meeting of stockholders held on June 19, 2025. The meeting included the election of two Class III directors and the ratification of Moss Adams LLP as the independent auditor.
📋 Key Facts
- Annual Meeting held on June 19, 2025.
- Quorum was established with approximately 68% of total voting power (35,835,802 votes) represented.
- David Glazer and Naytri Shroff Sramek were elected as Class III directors to serve until the 2028 annual meeting.
- Moss Adams LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Voting power included significant weighted votes from Series A' and Series A Preferred Stock.
Grove Collaborative Holdings, Inc. announced a change in its independent registered public accounting firm following the merger of Moss Adams LLP with Baker Tilly US, LLP. The company has appointed Baker Tilly as its successor auditor.
🚩 Red Flags
- None identified; auditor change is due to a merger rather than a dispute.
📋 Key Facts
- Effective June 3, 2025, Moss Adams LLP merged with Baker Tilly US, LLP.
- Moss Adams resigned as the Company's independent auditor due to the merger.
- The Audit Committee approved the appointment of Baker Tilly, US, LLP as the successor auditor.
- No disagreements with Moss Adams regarding accounting principles, practices, or auditing scope were reported for the period ending June 3, 2025.
- Moss Adams' audit report for the fiscal year ended December 31, 2024, was unqualified (no adverse opinion or disclaimer).
Grove Collaborative Holdings, Inc. received a notice from the NYSE stating it is non-compliant with minimum market capitalization and stockholders' equity requirements. The company must submit a plan to regain compliance within 45 days.
🚩 Red Flags
- Delisting notice regarding market capitalization and equity thresholds
- Potential for significant downward pressure on stock price due to liquidity/listing risk
📋 Key Facts
- Received NYSE notice on May 15, 2025.
- Non-compliance relates to Section 802.01B of the NYSE Listed Company Manual.
- Failure to maintain an average market capitalization of at least $50.0 million over a consecutive 30 trading-day period.
- Failure to maintain stockholders' equity of at least $50.0 million.
- Company must submit a business plan within 45 days demonstrating a path to compliance within 18 months.
Grove Collaborative Holdings, Inc. filed an 8-K to announce its quarterly earnings results for the period ended March 31, 2025 and provided an updated investor presentation.
📋 Key Facts
- Earnings release issued on May 14, 2025 for the quarter ended March 31, 2025.
- Investor presentation posted to the company's website (investors.grove.co) as part of Regulation FD disclosure.
- Interim CFO Tom Siragusa signed the report.
Grove Collaborative Holdings, Inc. entered into Amendment No. 3 to its Asset-Based Lending (ABL) Loan Agreement with Siena Lending Group LLC on May 8, 2025. The amendment extends the loan maturity and modifies covenant and margin structures.
🚩 Red Flags
- Elimination of minimum liquidity covenant suggests a potential easing of credit constraints or a negotiation to prevent technical default due to cash position.
- Amendment follows two previous amendments in less than a year (July 2024 and November 2024), indicating frequent restructuring of debt terms.
📋 Key Facts
- Maturity date extended to April 10, 2028.
- Elimination of the minimum liquidity financial covenant.
- Replacement of applicable margin grid with a fixed margin: 4.25% for term SOFR loans and 3.25% for base rate loans.
- Amendment involves Borrowers Grove Collaborative Holdings, Inc. and Grove Collaborative, Inc., and Lender Siena Lending Group LLC.
Grove Collaborative Holdings, Inc. has filed a Certificate of Retirement to officially retire all Class B common stock following its conversion into Class A common stock on February 14, 2025. This action amends the company's Certificate of Incorporation and reduces the total authorized number of shares.
📋 Key Facts
- On April 15, 2025, the Company filed a Certificate of Retirement with the Secretary of State of Delaware to retire all Class B common stock.
- Effective February 14, 2025, all outstanding Class B shares were converted into Class A common stock.
- The total authorized number of shares is now reduced to 700,000,000.
- Authorized capital structure consists of 600,000,000 shares of Class A Common Stock and 100,000,000 shares of Preferred Stock.
Grove Collaborative Holdings, Inc. filed an 8-K to announce its earnings results for the quarter and fiscal year ended December 31, 2024. The filing includes a press release and an updated investor presentation.
📋 Key Facts
- Earnings announcement for the quarter and year ended December 31, 2024.
- Investor presentation updated as of March 11, 2025.
- Interim CFO Tom Siragusa signed the report.
Grove Collaborative Holdings announced the termination of CFO Sergio Cervantes effective February 16, 2025. Tom Siragusa has been appointed to serve as interim CFO, principal financial officer, and principal accounting officer.
🚩 Red Flags
- Sudden departure of the Chief Financial Officer (CFO).
- Appointment of an 'interim' officer suggests a lack of immediate permanent leadership in the finance department.
- Separation agreement includes accelerated vesting and cash payouts, which can sometimes signal friction or rapid restructuring.
📋 Key Facts
- Sergio Cervantes' employment is terminated effective February 16, 2025.
- Tom Siragusa appointed as interim CFO, interim principal financial officer, and interim principal accounting officer effective February 16, 2025.
- Separation package for Mr. Cervantes includes a lump sum of 25 weeks' base salary.
- Mr. Cervantes is eligible for a cash bonus under the 2024 Annual Incentive Plan based on actual performance.
- The agreement includes accelerated vesting of RSUs scheduled to vest through May 15, 2025.
Grove Collaborative Holdings announced the departure of CFO Sergio Cervantes effective February 16, 2025. The company has appointed Tom Siragusa as interim CFO, principal financial officer, and principal accounting officer to ensure a smooth transition.
🚩 Red Flags
- Sudden departure of a CFO (even if stated as non-disagreement) can create temporary uncertainty in leadership stability.
📋 Key Facts
- CFO Sergio Cervantes will depart the company on February 16, 2025.
- The departure is not due to any disagreement regarding operations, policies, practices, financial statements, or internal controls.
- Tom Siragusa has been appointed as interim CFO, effective February 16, 2025.
- Siragusa will also assume the roles of interim principal financial officer and interim principal accounting officer.
- Siragusa previously served as VP, Finance starting in October 2024.
Grove Collaborative Holdings announced a significant leadership transition involving the Executive Chair stepping down to become a non-employee Director and the termination of the Chief Technology Officer.
🚩 Red Flags
- Departure of the Executive Chair (founder/key leader) can signal shifts in strategic direction or internal governance changes.
- Termination of the Chief Technology Officer (CTO) suggests potential restructuring or turnover in technical leadership.
📋 Key Facts
- Executive Chair Stuart Landesberg will step down from his executive role effective February 17, 2025, transitioning to a non-employee Board member (initially as Chairperson).
- Landesberg's compensation will shift from Executive Chair terms to standard non-employee Director compensation upon the transition date.
- CTO Chris Clark's employment is being terminated effective February 16, 2025.
- Clark will receive a lump sum of 26 weeks' base salary and accelerated vesting for certain RSUs if he remains through his separation date.
- Clark will provide non-compensated consulting services from Feb 16, 2025, to April 1, 2025.
Grove Collaborative Holdings has amended its Asset-Based Lending (ABL) agreement with Siena Lending Group and fully repaid/terminated its $30.35 million Term Loan Agreement. The ABL amendment focuses on easing liquidity thresholds, reducing availability blocks, and relaxing financial covenants.
🚩 Red Flags
- Frequent amendments to debt agreements (Amendment No. 2) suggest ongoing restructuring of credit terms.
- The reduction of liquidity thresholds and availability blocks often indicates a company is negotiating for more breathing room due to tight cash positions.
📋 Key Facts
- Amendment No. 2 to the ABL Loan Agreement was entered into on November 21, 2024.
- The Amendment reduces liquidity and excess availability thresholds for triggering cash dominion events.
- Financial covenants were revised to reduce minimum liquidity requirements and remove specific step-up triggers.
- The Term Loan Agreement with Ocean II PLO LLC was voluntarily repaid in full ($30,349,672.50) and terminated on November 21, 2024.
Grove Collaborative Holdings, Inc. filed an 8-K to announce its earnings results for the three and nine months ended September 30, 2024. The filing includes a press release regarding financial performance and an updated investor presentation.
📋 Key Facts
- Earnings announcement for the three and nine months ended September 30, 2024.
- Release of Exhibit 99.1 (Press Release) containing quarterly results.
- Release of Exhibit 99.2 (Investor Presentation) intended for use in management presentations to analysts and investors.
Grove Collaborative Holdings, Inc. has dismissed its independent auditor, Ernst & Young LLP (EY), and appointed Moss Adams LLP as its new independent registered public accounting firm effective October 9, 2024.
🚩 Red Flags
- Auditor change (dismissal of a Big Four firm in favor of a mid-tier firm) can sometimes signal underlying complexities or cost-cutting measures.
- The timing of the dismissal (mid-quarter/year transition) requires close monitoring for potential delays in upcoming financial filings.
📋 Key Facts
- Dismissal of Ernst & Young LLP (EY) occurred on October 9, 2024.
- Moss Adams LLP appointed to serve for the fiscal year ending December 31, 2024, and the quarter ending September 30, 2024.
- The company stated there were no disagreements with EY regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures.
- EY's audit reports for fiscal years 2022 and 2023 did not contain adverse opinions, disclaimers of opinion, or qualifications.
Grove Collaborative Holdings entered into a $15 million private placement with Volition Capital Fund IV, L.P., issuing Series A' Convertible Preferred Stock. The transaction includes the cancellation of over 1.6 million existing warrants and requires the company to use at least $10 million of the proceeds to repay existing term loan debt by November 30, 2024.
🚩 Red Flags
- Significant dilution: The cancellation of 1.6 million warrants combined with the issuance of new preferred stock suggests a restructuring of existing equity/debt obligations.
- Debt Repayment Requirement: A mandate to use $10M of proceeds for debt repayment indicates immediate liquidity needs and pressure on cash reserves.
- Restrictive Covenants: The Investor has significant control rights, including veto power over amending the certificate of incorporation or incurring new debt outside the approved budget.
📋 Key Facts
- Company issued 15,000 shares of Series A' Convertible Preferred Stock to Volition Capital Fund IV, L.P.
- Total cash consideration received: $15,000,000.
- The transaction includes the cancellation of 1,600,683 existing warrants held by the Investor.
- Company is obligated to use at least $10,000,000 of the proceeds to repay a portion of its term loan before November 30, 2024.
- Series A' Preferred Stock has a liquidation preference of $1,000.00 per share and a 6% annual dividend rate.
- The initial conversion price for Series A' Preferred Stock is set at $1.9328 per share.
Grove Collaborative Holdings, Inc. filed an 8-K to announce its quarterly earnings results for the three and six months ended June 30, 2024. The filing includes a press release regarding financial performance and an updated investor presentation.
📋 Key Facts
- Earnings announcement for the three and six months ended June 30, 2024.
- Filed on August 8, 2024.
- Includes Exhibit 99.1 (Press Release) and Exhibit 99.2 (Investor Presentation).
- Company is classified as an emerging growth company.
Grove Collaborative Holdings prepaid $42 million of its existing Term Loan and entered into amendments to both its Term Loan Agreement and Asset-Based Lending (ABL) Agreement. The amendments provide relief by reducing cash maintenance requirements, extending the amortization date, and easing liquidity triggers.
🚩 Red Flags
- Modification of debt terms (extending amortization) often indicates a need for more breathing room in liquidity management.
- Reduction in cash maintenance requirements and easing of cash dominion triggers suggests the company is negotiating for more flexible operational control due to tight liquidity constraints.
📋 Key Facts
- Voluntary prepayment of $42,000,000 toward the principal of the existing Term Loan Agreement on July 16, 2024.
- Second Amendment to Term Loan Agreement extends the Amortization Date from July 1, 2025, to January 1, 2026.
- Second Amendment reduces the amount of Unrestricted Cash required to be maintained by Borrowers.
- First Amendment to ABL Loan Agreement reduces liquidity thresholds for triggering cash dominion events and additional appraisal requirements.
- ABL availability block changed from an 'at all times' test to a 'liquidity based' test.
Grove Collaborative Holdings, Inc. reported the results of its 2024 annual meeting of stockholders held on May 23, 2024. The meeting included the election of two Class II directors and the ratification of Ernst & Young LLP as the independent auditor.
📋 Key Facts
- Annual Meeting held on May 23, 2024.
- Quorum was established with approximately 66% (62,556,313 votes) of total voting power represented.
- John Replogle and Jeff Yurcisin were elected as Class II directors to serve until the 2027 annual meeting.
- Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
Grove Collaborative Holdings, Inc. filed an 8-K to furnish its earnings press release for the quarter ended March 31, 2024.
📋 Key Facts
- Report date: May 14, 2024
- Reporting period: Quarter ended March 31, 2024
- The filing includes Exhibit 99.1 containing the earnings press release
- Information is furnished under Item 2.02 and not filed for purposes of Section 18 liability
The company issued an 8-K to announce its earnings results for the fourth quarter and full fiscal year ended December 31, 2023. The filing includes a press release and supplemental investor presentation slides.
📋 Key Facts
- Earnings announcement for Q4 and FY 2023 issued on March 6, 2024.
- Included Exhibit 99.1: Press Release regarding earnings results.
- Included Exhibit 99.2: Supplemental investor presentation slides.
- The filing is categorized under Item 2.02 (Results of Operations) and Item 7.01 (Regulation FD Disclosure).