Firsthand Technology Value Fund Announces Voluntary Delisting From Nasdaq Global Market; Expects Delisting Of Its Common Stock To Become Effective On Or About October 26, 2023
Portfolio Pulse from Benzinga Newsdesk
Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) has announced its decision to voluntarily delist its common stock from the Nasdaq Global Market, with the delisting expected to become effective on or about October 26, 2023. The decision comes after the Fund received notices from Nasdaq for non-compliance with minimum bid price and market value requirements. The Fund's board believes delisting will lower operating costs and management time commitment for compliance activities. The Fund plans to have its common stock quoted on the OTCQB or another OTC market.
October 06, 2023 | 8:17 pm
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Firsthand Technology Value Fund's decision to delist from Nasdaq could lead to lower operating costs and less time spent on compliance activities. However, it may also impact the liquidity and visibility of its stock.
Delisting from a major exchange like Nasdaq often leads to lower visibility and liquidity for a stock, which can negatively impact its price. However, the company expects to lower its operating costs and management time commitment for compliance activities, which could have a positive impact on its financial performance.
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