Glen Burnie Bancorp announced its intention to voluntarily delist its common stock from Nasdaq and terminate its SEC registration.
The decision was based on providing liquidity to stockholders and redirecting resources to other business opportunities.
Following the delisting, trading of the common stock is expected to move to the OTCQX platform.
Voluntary Delisting
Bancorp approved the delisting to provide liquidity to stockholders and reduce reporting obligations.
OTCQX Trading
Bancorp applied for its common stock to be quoted on the OTCQX platform post-delisting.
Form 15 Filing
Bancorp intends to file Form 15 with the SEC to cease certain filing obligations.
- The delisting and deregistration are aimed at reducing costs and redirecting resources to new business opportunities.
- Stock trading post-delisting may occur through negotiated sales and over-the-counter markets.
Glen Burnie Bancorp's decision to delist and deregister is seen as a strategic move to benefit both the company and its stockholders by focusing on new growth prospects.