SeaChange Announces Voluntary SEC Deregistration And Nasdaq Delisting
Portfolio Pulse from Happy Mohamed
SeaChange International, Inc. (NASDAQ:SEAC) has announced its voluntary decision to deregister its common stock with the U.S. Securities and Exchange Commission (SEC) and delist from Nasdaq. The company expects the last trading day of its common stock on Nasdaq to be around August 28, 2023. The decision follows a strategic alternatives process initiated in December 2022, which explored potential transactions to maximize stockholder value. The company believes that delisting will save significant money, which can be used to execute its standalone plan and provide a benefit to the company's stockholders.
August 08, 2023 | 12:20 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
SeaChange's decision to deregister and delist from Nasdaq could lead to increased illiquidity of its common stock. However, the company expects to save over $3 million annually, which could be used to execute its standalone plan and benefit stockholders.
SeaChange's decision to deregister and delist from Nasdaq could lead to increased illiquidity of its common stock, potentially making it harder for investors to buy or sell shares. However, the company expects to save over $3 million annually from the elimination of accounting and other expenses, which could be used to execute its standalone plan and benefit stockholders. This could potentially lead to a negative short-term impact on the stock price due to the increased illiquidity, but a positive long-term impact due to the expected cost savings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100