Bemax Inc (BMXC)

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What Prompts a Company to File SEC Form 15-15D
Mergers and structural reorganizations can also lead a company to file Form 15-15D to suspend its reporting requirements. For instance, if a company owns subsidiaries it may decide to absorb those entities into itself and take ownership of all the outstanding stock of the subsidiaries. Form 15-15D would be filed with the SEC to indicate the termination of the duty to file reports related to the outstanding stock of the subsidiaries.

If a company takes action to remove itself from the public markets, an act referred to as going private or going dark, filing Form 15-15D or Form 15 is part of the process. The company must complete several steps as it goes dark. This includes deregistering securities and ending the obligation to file periodic reports to regulators. The number of shareholders who own a company’s stock must fall below a certain threshold before filings can be made with the SEC to deregister. Publicly held companies can deregister their equity securities if there are fewer than 300 shareholders of record or fewer than 500 shareholders of record if the company does not have substantial assets.

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