Yes,, it is ultra rare
BUT<<<it does happen---
FTNW---was BEAC when de-registered by the SEC and sent to the grave--oblivion----
But the company issued a PR saying that they would be back--
And they spent the money, did what the SE requested, returned to the GREY Sheets and continued doing the necessary SEC requirements and VIOLA--now listed on the NASDAQ
Took some time --year or two or so as I recall--it was a reverse mmerger by a private company to go public---a couple of RS deals to evaporate stock and everybody lost their arse--