Gelesis Receives Notice of Non-Compliance with NYSE Listing Rules

BOSTON–()–Gelesis Holdings Inc. (NYSE: GLS) (“Gelesis” or the “Company”) announced today that on November 16, 2022 the Company received a notification letter (the “Notice”) from the New York Stock Exchange ( the “NYSE”), which indicated that it does not comply with the continued listing standard under Section 802.01B of the NYSE Listed Company Manual because its aggregate market capitalization over a 30-trading-day period was less than $50 million and its shareholders’ equity was less than $50 million in a separate 30 trading day period. The Company’s common shares will continue to be listed and traded on the NYSE during the lockup period set forth below, subject to the Company’s compliance with other NYSE listing standards.

Pursuant to Section 802.02 of the NYSE Listed Company Manual (“Section 802.02”), the Company intends to contact the NYSE within 10 days of receipt of the Notice to acknowledge receipt of the Notice and confirm its intention to file it with the NYSE a plan setting out the actions that the Company has taken or will take to bring it into compliance with the Continuing Listing Standards within 18 months of receipt of the Notice (the “Correction Period”). Pursuant to Section 802.02, the Company has 45 days from receipt of notice to submit its plan. The Company intends to develop and submit such a plan within the required timeframe. If the NYSE accepts the plan, the company will be monitored quarterly by the NYSE for compliance with the plan.

The Company’s common stock will continue to trade under the symbol “GLS” with the addition of a “.BC” designation to indicate that the Company does not currently comply with NYSE listing standards for continuous listings.

About Gelesis

Gelesis Holdings Inc. (NYSE: GLS) (“Gelesis”) is a consumer-focused biotherapeutics company.

Forward-Looking Statements

Certain statements, estimates, objectives and projections in this press release may constitute “forward-looking statements” within the meaning of federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “possible”, “potential”, ” predict”, “forecast”, “should”, “aim”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that such statement is not forward-looking. Forward-looking statements are predictions, forecasts and other statements about future events that are based on current expectations and assumptions and are therefore subject to risks and uncertainties. Forward-looking statements include, but are not limited to, statements about the expectations, hopes, beliefs, intentions or strategies of Gelesis or its management team regarding the future. In addition, all statements that relate to predictions, 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 place undue reliance on any forward-looking statements, and Gelesis undertakes no obligation and does not intend to update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise. Gelesis makes no representation that the expectations expressed in this press release will be met. Various risks and uncertainties (some of which are beyond Gelesis’ control) or other factors could cause actual future results, performance or events to differ materially from those described herein. Some of the factors that could affect future results and performance include: Gelesis’ ability to regain compliance with the NYSE’s continued listing standards within the applicable healing period, Gelesis’ ability to continue to comply with the NYSE’s continuing listing standards, and others important factors discussed in the “Risk Factors” section of Gelesis’ most recent Annual Report on Form 10-K and other filings by Gelesis with the Securities and Exchange Commission. These filings involve other important risks and uncertainties that could cause actual results and events to differ materially from those contained in the forward-looking statements.

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