Hanger, Inc. (HNGR)
Link To This Article: Hanger Announces Suspension of Trading on the New York Stock Exchange and the Commencement of Trading on the Facilities of th...Date :02/26/2016 @ 6:48PMSource :PR Newswire (US)Stock :Hanger, Inc. (HNGR)Quote : 2.49 -7.01 (-73.79%) @ 4:15PM
Hanger Announces Suspension of Trading on the New York Stock Exchange and the Commencement of Trading on the Facilities of th...
Hanger, Inc. (USOTC:HNGR)
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1 Month : From Feb 2016 to Mar 2016
AUSTIN, Texas, Feb. 26, 2016 /PRNewswire/ -- Hanger, Inc. (NYSE: HGR) (the "Company") today announced that the Company's commonstock has been suspended from trading, effective today, on the New York Stock Exchange ("NYSE"). The suspension is a result of the Company's non-compliance with NYSE listing standards due to its failure to file its Annual Report on Form 10-K for its year ended December 31, 2014 with the Securities and Exchange Commission (the "SEC"). The delay in filing is due to the time the Company has found necessary for it to evaluate accounting misstatements and other considerations detected in its previously filed financial statements and other financial data, and to prepare restated financial statements that address these issues. The Company disclosed in a Current Report on Form 8‑K filed on February 26, 2016, that, based on new information and certain related recent developments, although it is not able to set a time frame for when the filing of its reports with the SEC will commence, it does not currently expect to file any periodic reports prior to the fourth quarter of 2016.
The NYSE had provided the Company an extension through March 19, 2016 to file its Annual Report on Form 10-K for 2014. Due to the Company's determination that it will be unable to meet this extended compliance date, the NYSE suspended the Company's common stock from trading today and announced that it was initiating delisting procedures. The Company expects that its shares of common stock will begin trading on Monday, February 29, 2016 under the symbol "HNGR" on theOTC Pink, which is operated by OTC Markets Group Inc.
The Company has provided additional information regarding its expected move to the over-the-counter-market through facilities of the OTC Markets Group Inc. in a frequently asked questions section in theinvestor relations tab located on the Company's website (www.hanger.com).
About Hanger, Inc. – Built on the legacy of James Edward Hanger, the first amputee of the American Civil War, Hanger, Inc. delivers orthotic and prosthetic (O&P) patient care, and distributes O&P products and rehabilitative solutions to the broader market. Hanger's Patient Care segment is the largest owner and operator of O&P patient care clinics nationwide. Through its Products & Services segment, Hanger distributes branded and private label O&P devices, products and components, and provides rehabilitative solutions. With over 150 years of clinical excellence and innovation, Hanger's vision is to be the partner of choice for products and services that enhance human physical capability.