Something is not right here. The process to delist was that they have to announce that which they did with a PR that they would begin filling form 25 and then allow the 10 day requirement before being delisted and move to OTCB. That was the first PR. Then within 24 hours they basically said they could move this to OTC much faster totally by passing the SEC requirement. So that's called an accelerate delisting and it can be due to two reasons.
First is what's known as going dark since the delisting process can be expensive going dark is a way for company to save money. Also going dark does not require shareholder's approval. But, the company must not trigger any of the exchange acts below if they choose to go dark.
under Section 12(b) if it has shares listed on a national securities exchange;
under Section 12(g) based on having over 500 record holders of a class of securities and total assets exceeding $10 million3; and
under Section 15(d) by having a registration statement declared effective under the Securities Act.
So I don't believe Delcath was legally going dark here since they also have to file a form 15 as well as disclose the number of record share holders to the public.
The second is that the company is being taken private or being acquired. Then it would not be necessary to file form 25. It's Monday and we've seen no sec filing and even if they were going dark we should at least see a form 15. So there is something up at Delcath.
Market Data 
Markets 
AI
