Greenbrook TMS Announces Delisting From Nasdaq, Common Shares Will Be Suspended As Of The Open Of Trading On February 26, 2024
Portfolio Pulse from Benzinga Newsdesk
Greenbrook TMS Inc. (NASDAQ:GBNH) announced it received a final delisting notice from Nasdaq due to failure to meet minimum bid price and stockholders' equity requirements. Trading of its common shares will be suspended on February 26, 2024, and the company plans to quote its shares on OTC Markets thereafter. Nasdaq will file a Form 25-NSE with the SEC to remove the company's shares from listing and registration.
February 23, 2024 | 2:03 pm
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Greenbrook TMS Inc. will be delisted from Nasdaq due to failure to meet listing requirements, with plans to move to OTC Markets.
The delisting of Greenbrook TMS Inc. from Nasdaq is a significant negative development, indicating the company's failure to meet critical financial standards. This could lead to decreased investor confidence and reduced liquidity, negatively impacting the stock price in the short term. The move to OTC Markets might not fully mitigate these negative effects.
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