Post by icemandios on Mar 19, 2020 23:43:41 GMT
Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing.
On March 17, 2020, INAP received a letter (the “Nasdaq Letter”) from the staff of the Nasdaq Listing Qualifications Department (the “Staff”) notifying INAP that, as a result of the Chapter 11 Cases and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, INAP’s common stock (the “Common Stock”) will be delisted from The Nasdaq Stock Market (“Nasdaq”). The Nasdaq Letter stated that the Staff’s determination was based on: (i) the filing of the Chapter 11 Cases and associated public interest concerns raised by such Chapter 11 Cases; (ii) concerns regarding the residual equity interest of the existing listed securities holders; and (iii) concerns about INAP’s ability to sustain compliance with all requirements of continued listing on Nasdaq.
INAP does not intend to appeal Nasdaq’s determination and, therefore, it is expected that the Common Stock will be delisted. The transition does not affect the Company’s operations and does not change reporting requirements under SEC rules. Upon delisting, INAP expects that its Common Stock will be quoted on the OTC under the symbol “INAP” on March 26, 2020.
Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing.
On March 17, 2020, INAP received a letter (the “Nasdaq Letter”) from the staff of the Nasdaq Listing Qualifications Department (the “Staff”) notifying INAP that, as a result of the Chapter 11 Cases and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, INAP’s common stock (the “Common Stock”) will be delisted from The Nasdaq Stock Market (“Nasdaq”). The Nasdaq Letter stated that the Staff’s determination was based on: (i) the filing of the Chapter 11 Cases and associated public interest concerns raised by such Chapter 11 Cases; (ii) concerns regarding the residual equity interest of the existing listed securities holders; and (iii) concerns about INAP’s ability to sustain compliance with all requirements of continued listing on Nasdaq.
Based on the Nasdaq Letter, unless INAP requests an appeal of this determination to a Nasdaq Hearings Panel, trading of the Common Stock will be suspended at the opening of business on March 26, 2020, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Common Stock from listing and registration on Nasdaq.
INAP does not intend to appeal Nasdaq’s determination and, therefore, it is expected that the Common Stock will be delisted. The transition does not affect the Company’s operations and does not change reporting requirements under SEC rules. Upon delisting, INAP expects that its Common Stock will be quoted on the OTC under the symbol “INAP” on March 26, 2020.
The transition does not affect the Company’s operations and does not change reporting requirements under SEC rules. Upon delisting, INAP expects that its Common Stock will be quoted on the OTC under the symbol “INAP” on March 26, 2020.
On March 17, 2020, INAP received a letter (the “Nasdaq Letter”) from the staff of the Nasdaq Listing Qualifications Department (the “Staff”) notifying INAP that, as a result of the Chapter 11 Cases and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, INAP’s common stock (the “Common Stock”) will be delisted from The Nasdaq Stock Market (“Nasdaq”). The Nasdaq Letter stated that the Staff’s determination was based on: (i) the filing of the Chapter 11 Cases and associated public interest concerns raised by such Chapter 11 Cases; (ii) concerns regarding the residual equity interest of the existing listed securities holders; and (iii) concerns about INAP’s ability to sustain compliance with all requirements of continued listing on Nasdaq.
Based on the Nasdaq Letter, unless INAP requests an appeal of this determination to a Nasdaq Hearings Panel, trading of the Common Stock will be suspended at the opening of business on March 26, 2020, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Common Stock from listing and registration on Nasdaq.
INAP does not intend to appeal Nasdaq’s determination and, therefore, it is expected that the Common Stock will be delisted. The transition does not affect the Company’s operations and does not change reporting requirements under SEC rules. Upon delisting, INAP expects that its Common Stock will be quoted on the OTC under the symbol “INAP” on March 26, 2020.
Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing.
On March 17, 2020, INAP received a letter (the “Nasdaq Letter”) from the staff of the Nasdaq Listing Qualifications Department (the “Staff”) notifying INAP that, as a result of the Chapter 11 Cases and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, INAP’s common stock (the “Common Stock”) will be delisted from The Nasdaq Stock Market (“Nasdaq”). The Nasdaq Letter stated that the Staff’s determination was based on: (i) the filing of the Chapter 11 Cases and associated public interest concerns raised by such Chapter 11 Cases; (ii) concerns regarding the residual equity interest of the existing listed securities holders; and (iii) concerns about INAP’s ability to sustain compliance with all requirements of continued listing on Nasdaq.
Based on the Nasdaq Letter, unless INAP requests an appeal of this determination to a Nasdaq Hearings Panel, trading of the Common Stock will be suspended at the opening of business on March 26, 2020, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Common Stock from listing and registration on Nasdaq.
INAP does not intend to appeal Nasdaq’s determination and, therefore, it is expected that the Common Stock will be delisted. The transition does not affect the Company’s operations and does not change reporting requirements under SEC rules. Upon delisting, INAP expects that its Common Stock will be quoted on the OTC under the symbol “INAP” on March 26, 2020.
The transition does not affect the Company’s operations and does not change reporting requirements under SEC rules. Upon delisting, INAP expects that its Common Stock will be quoted on the OTC under the symbol “INAP” on March 26, 2020.