Enzon Pharmaceuticals Inc. (ENZN)

[aquaspin]

I think he has only taken one company private and he gave shareholders a better deal than the planned liquidation.
There is no need for him to take this one private. However, he may delist it to pinksheets to file a form 15-12 so the company would save hundreds of thousands of dollars in reporting costs.
In that case, if ENZN has over 300 shareholders, he would probably do a 1,000 to 1 or so reverse split then do a forward split of the same ratio. He would pay out the shareholders that own 1,000 or less shares so they wouldn't lose any money when their shares are wiped out in the RS.
You have to have under 300 shareholders to go dark.