"Going private" is the process by which a public company ceases to be a public company. Rules of the Securities and Exchange Commission ("SEC") permit a company to de-register its securities and thereby "go private" when it has fewer than 300 stockholders of record. I think CGAQ has more than 300 stock holders of record.
Taking a Public Company Private: A Primer The time and expense of complying with the Sarbanes-Oxley regulations and other corporate governance reforms are causing an increasing number of public companies, particularly small and mid size firms, to consider going private (the “reverse IPO”). The transaction(s) involved in taking a public company private can take many forms, each with its own implications for disclosure, timing, and cost, including:
A cash merger, where the subject company merges with a company controlled by the majority stockholder or group of them;
A tender offer by an affiliated entity;
A tender offer by the issuer;
A reverse stock split - increasingly common with smaller companies - where the majority stockholder or group of stockholders remaining after the transaction remain invested, while minority shareholders are cashed out.
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