Rentech to voluntary delist common shares from Nasdaq
October 16, 2017
By Rentech Inc.
Oct. 16, 2017 - Rentech, Inc. has notified Nasdaq of its intention to voluntarily withdraw the company’s common shares from listing on The Nasdaq Capital Market effectively immediately prior to market opening on Oct. 16. The company intends to file a Form 25, Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended, with the Securities and Exchange Commission (SEC) on Oct. 16, notifying the SEC of its transfer from listing on The Nasdaq Capital Market to the OTCQB Market. Rentech’s common shares will be listed on the OTCQB Market effective as of the market open on Oct. 16.
The transfer from The Nasdaq Capital Market to the OTCQB Market is due to Rentech’s inability to cure its noncompliance with NASDAQ Listing Rule 5550(a)(2) (the NASDAQ Listing Rule). The NASDAQ Listing Rule requires Rentech’s common shares to trade above USD$1.00 for 30 consecutive business days before Oct. 9 or 180 days from which Rentech received notification from Nasdaq regarding its noncompliance with the NASDAQ Listing Rule.
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