Audacy Provides NYSE Listing Update; Audacy Common Stock To Delist From NYSE, Determination Has No Impact On Audacy's Business Strategy Or Operations
Portfolio Pulse from Benzinga Newsdesk
Audacy, Inc. (NYSE:AUD, OTC:AUDA) has announced that its appeal to prevent the delisting of its Class A Common Stock from the New York Stock Exchange (NYSE) was unsuccessful. The NYSE has filed a Form 25 with the SEC, which will make the delisting effective on or about November 10, 2023. The stock has not been traded on the NYSE since May due to 'abnormally low' price levels. The stock will continue to trade over the counter under the symbol 'AUDA'. The delisting has no impact on Audacy's business strategy or operations.
October 30, 2023 | 5:02 pm
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Audacy's Class A Common Stock will be delisted from the NYSE, but will continue to trade over the counter under the symbol 'AUDA'. The delisting has no impact on the company's business strategy or operations.
The delisting of Audacy's stock from the NYSE could negatively impact the stock's liquidity and visibility, potentially leading to a decrease in its price. However, the company has stated that the delisting will not affect its business strategy or operations, which could mitigate some of the potential negative impact.
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IMPORTANCE 80
RELEVANCE 100