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XXII: effective April 2,2024 a one for 16 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
SEC Obtains Final Judgment Against Ryan Felton, FLiK, and CoinSpark for Fraudulent ICOs
https://www.sec.gov/litigation/litreleases/lr-25961
MUSLF: one for 3 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
NRXP: Effective Tues. April 2,2024 a one for 10 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
ONPH: SEC Obtains Final Judgment Against Individual in Stock Selling Scheme
https://www.sec.gov/litigation/litreleases/lr-25952
NIRLQ: BK PLAN effective. All shares cancelled.
https://otce.finra.org/otce/dailyList?viewType=Deletions
JOAN changed to JOANQ, bankruptcy. Effective March 28,2024 JOANQ will be delisted from the Nasdaq to the OTC:
https://otce.finra.org/otce/dailyList?viewType=Additions
MGLQF: inactive security. FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
EMKR: effective April 2,2024 a one for 10 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
RENT: effective April 3,2024 a one for 3 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
Revoked SEC registration: RETC
https://www.sec.gov/files/litigation/opinions/2024/34-99856.pdf
RETC SEC registration revoked:
https://www.sec.gov/files/litigation/opinions/2024/34-99856.pdf
Most likely yes, as with all bankruptcies the common shares are the very last in line for distribution, and in all of those cases the common shares are considered a burden to either the reorganization (CH 11) or liquidation (CH 7) and are consequently cancelled.
To be sure it is important to read the Bankruptcy PLAN.
RDGH: inactive security. FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
GreenLink International Inc, WSHE, changed to Suncliff Inc, SCLF
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
CurrentC Power Corp changed to Acadia Energy Corp
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
KIQ changed to KIQSF. Delisted from the NYSE to the OTC:
https://otce.finra.org/otce/dailyList?viewType=Additions
CTRM: effective March 27,2024 a one for 10 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
FMEGF: Going Private Transaction. Pursuant to the terms of the Arrangement Agreement, all of the Common Shares, other than those Common Shares owned by Fairfax Financial and the Company's CEO, will be acquired. Holders will receive CAD$0.35 per Common Share.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
AGRX delisted from the Nasdaq to the OTC. Stock dropped 62% from .54 to .21 after hours.
https://otce.finra.org/otce/dailyList?viewType=Additions
FSR changed to FSRN. Delisted from the NYSE to the OTC at 17:21.
https://otce.finra.org/otce/dailyList?viewType=Additions
FSR 8K: Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1720990/000172099024000032/fsr-20240325.htm
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 25, 2024, the New York Stock Exchange (the “NYSE”) notified Fisker Inc. (the “Company” or “Fisker”) that the NYSE had determined to (A) immediately suspend trading in the Company’s Class A common stock, par value $0.00001 per share (the “Class A Common Stock”), due to “abnormally low” trading price levels pursuant to Section 802.01D of the NYSE Listed Company Manual, and (B) commence proceedings to delist the Class A Common Stock. A delisting of our Class A Common Stock will trigger a requirement to offer to repurchase our unsecured 2.50% convertible notes due 2026 (the “2026 Notes”) and will cause an event of default under our senior secured convertible notes due 2025 (the “2025 Notes”), which would permit the holders of the 2025 Notes to accelerate such notes and make them immediately payable in full. We do not currently have sufficient cash reserves or financing sources sufficient to satisfy all amounts due under the 2026 Notes or the 2025 Notes, and as a result, such events could have a material adverse effect on our business, results of operations and financial condition.
The Company expects that its Class A Common Stock will be quoted on the OTC Pink platform or another market operated by OTC Markets Group Inc. (the “OTC”). The OTC is a significantly more limited market than the NYSE, and quotation on the OTC will result in a less liquid market for existing and potential holders of the Class A Common Stock to trade the Class A Common Stock and could further depress the trading price of the Class A Common Stock. The Company can provide no assurance that its Class A Common Stock will trade or continue to trade on this market, whether broker-dealers will provide and continue to provide public quotes of the Class A Common Stock on this market, or whether the trading volume of the Class A Common Stock will be sufficient to provide for an efficient trading market.
Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, express or implied forward-looking statements relating to the Company’s Class A Common Stock becoming available for quotation on the OTC and the development of any market for the Class A Common Stock on the OTC. You are cautioned that such statements are not guarantees of future performance and that the Company’s actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause the Company’s actual expectations to differ materially from these forward-looking statements include the Company’s ability improve its capital structure; the consequences of any default or event of default under its debt documents; Fisker’s liquidity needs to operate its business and execute its strategy, and related use of cash; its ability to raise capital through equity issuances, asset sales or the incurrence of debt; Fisker’s ability to fully execute actions and steps that would be probable of mitigating the existence of substantial doubt regarding its ability to continue as a going concern; retail and credit market conditions; higher cost of capital and borrowing costs; impairments; changes in general economic conditions; Fisker’s expectations regarding its ability to transition from a direct-to-consumer model to a dealer partner distribution model and the other factors under the heading “Risk Factors” set forth in the Company’s Annual Report on Form 10-K, as supplemented by the Company’s quarterly reports on Form 10-Q and current reports on Form 8-K. Such filings are available on our website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date hereof. The Company undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 25, 2024 FISKER INC.
By: /s/ Geeta Gupta-Fisker
Dr. Geeta Gupta-Fisker
Chief Financial Officer and Chief Operating Officer
GBLHF: inactive security. FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
GBLHF: inactive security. FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
KWAC: Business Combination. As a result of the business combination, the Class A Common Stock (KWAC) was cancelled and converted automatically into, and now represents, the right to receive one (1) share of Binah Capital Group, Inc. Common Stock.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
Impel Neuropharma Inc changed to IPI Legacy Liquidation Co
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
Revoked SEC registration: DFTS
https://www.sec.gov/files/litigation/opinions/2024/34-99820.pdf
DFTS SEC registration revoked:
https://www.sec.gov/files/litigation/opinions/2024/34-99820.pdf
MBRX: effective March 22,2024 a one for 15 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
MLGO: effective March 22,2024 a one for 10 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
FIXX: effective March 25,2024 a one for 18 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
SVXY: effective April 11,2024 a 2 for one forward split:
https://hedgefollow.com/upcoming-stock-splits.php
UVXY: effective April 11,2024 a one for 5 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
Revoked SEC registration: UNXLQ
https://www.sec.gov/files/litigation/opinions/2024/34-99781.pdf
UNXLQ: SEC registration revoked:
https://www.sec.gov/files/litigation/opinions/2024/34-99781.pdf
SEC registration revoked: DWOG
https://www.sec.gov/files/litigation/opinions/2024/34-99795.pdf
DWOG: SEC registration revoked:
https://www.sec.gov/files/litigation/opinions/2024/34-99795.pdf
PHGD: Charter Cancelled / Dissolution
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
MRIRF: effective March 22,2024 a one for 10 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php
ETAO: effective March 25,2024 a one for 20 reverse split:
https://hedgefollow.com/upcoming-stock-splits.php