LMP Automotive Holdings Inc. (LMPX) Announces Voluntary NASDAQ Delisting and SEC Deregistration
- Wall St posts third straight quarterly loss as inflation weighs, recession looms
- Intel's Autonomous Unit Mobileye Files U.S. IPO, Defying Weak Market Conditions
- Nike (NKE) Drops 9% as Inventory Surges 44%, Analysts See Attractive Valuation
- Hollywood Super Agent Attempts to Open Door for Twitter-Musk Settlement - Bloomberg
- Dollar up on euro as quarter ends, commodity led currencies sink
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today announced that in connection with the previously announced sale of substantially all of its assets (the “Atlantic Sale”), it has notified Nasdaq of the Company’s intent to voluntarily delist its common stock from the Nasdaq Capital Market. The Company expects to file a Form 25 with the Securities and Exchange Commission to effect the voluntary delisting of the common stock under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) on or about August 15, 2022, and that the delisting will be effective on or about August 25, 2022 – ten days after the filing of the Form 25. Following delisting, the Company expects its common stock to trade on the OTC Pink Market tier.
As previously reported, the Company received a notice from the Nasdaq Listing Qualifications staff of the Nasdaq indicating that, as a result of not having timely filed its Annual Report on Form 10-K for the year ended December 31, 2021 and the Quarterly Report on Form 10-Q for the period ended March 31, 2022 the Company remains in non-compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission.
Following delisting, in accordance with our intended liquidation plan and to curtail expenses, the Company intends in the future to deregister its common stock and suspend its reporting obligations under the Exchange Act.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Delta Corp Holdings Enters into Definitive Merger and Share Exchange Agreement with Coffee Holding Co., Inc. (JVA)
- Deep Medicine Acquisition (DMAQ) terminates Business Combination Agreement with Chijet
- Limbach Holdings (LMB) Announces $2M Share Buyback
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Trading Halts
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!