Home > Boards > US OTC > Cannabis > GRN Holding Corp. (GRNF)

Here's why 8-10 trading days for CUSIP and

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (7) | Next 10 | Previous | Next
MAKATIBUGATTI Member Profile
 
Followed By 623
Posts 9,483
Boards Moderated 0
Alias Born 08/12/09
160x600 placeholder
MAKATIBUGATTI   Sunday, 08/25/19 03:10:41 PM
Re: Rghj2 post# 35213
Post # of 60085 
Here's why 8-10 trading days for CUSIP and Ticker change.

Rule 6490 by FINRA says ...
Quote:
"All requests to process documentation related to Other Company-Related Actions must be complete and submitted to the Department, in the manner and form required, no later than the time period prescribed for such Other Company-Related Action by FINRA. Notice and information submitted for Other Company-Related Actions must be submitted no later than 10 calendar days prior to the effective date of the company action."
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=9364

So what do we know...

We know DCGD/GFN Holding filed an Amended 8-K on 8/22 and indicated no corporate action with FINRA had (yet) been filed as of 8/19, but that they were "proceeding" with it.
Quote:
"The Registrant is proceeding with its application to FINRA for a name and symbol change, and will advise the Commission and the public for an expected market effective date for these changes in a press release and a disclosure on Form 8-K"
https://www.otcmarkets.com/filing/html?id=13607672&guid=chvIUqT8myTq53h

So the earliest GFN Holding Corp could have filed the corporate action was Tuesday, 8/20 but it's more reasonable to say it was filed sometime last week between 8/20 - 8/23/19 imo.

Remember Justin get's to pick the effective date of the CUSIP and Symbol change.

I think the effective date will be between Thursday, 9/5 - Monday, 9/9.

Here's why...

Since it's the summer and typically employee's and families travel or go on vacation. It's reasonable to assume FINRA (and all parties involved such as private equity & hedge funds) have slightly longer backlogs (than normal). Furthermore, and this is really important, JC would want as many eyeballs on the stock as possible on the effective date and therefore with Labor Day and markets closed on 9/2, and children going back to school on 9/3 (in the north east), and parents being swamped buying school supplies on 9/3 & 9/4 ... I think we can expect the PR & filing on 9/4 and the effective date of the CUSIP & Ticker change to be between Thursday, 9/5 - Monday, 9/9 .


8 -10 trading days is my estimate.

JMO

My posts are my opinion only. You should do your own due diligence before investing in any stock or take professional advice. I am not an investment advisor.
Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (7) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist