This article by HousingWire discusses the delisting of Impac Mortgage Holdings’ common stock from the NYSE American. Impac Mortgage Holdings is a residential mortgage company that is based in Irvine, California. The delisting of Impac’s common stock is the result of a notice sent out by the NYSE American on May 11th and will occur at the end of business on June 11th.
Impac Mortgage Holdings notified its stockholders of the delisting in an 8-K form filed on May 18th. In the 8-K filing, Impac noted that the delisting follows previous disappointing results concerning the minimum closing bid price requirement of $3.00. Impac also said that their delisting likely affects any publicly traded securities they hold.
The NYSE American issued an amendment to the listing standards that declares that Impac Mortgage Holdings has not managed to meet the minimum listing requirements as laid out in Section 1003(a)(iv) of the listing standards. Thus, the exchange has determined that Impac’s continued listing is not in the best interests of other investors. Impac’s common stock will acquire a “Y” prefix, indicating a foreign security, and will be able to trade until the closing of business on June 11th.
The delisting of Impac Mortgage Holdings’ common stock is the result of the NYSE American’s decision that its listing is not in the best interests of other investors. This follows Impac’s announcement in an 8-K filing that they have not met the minimum listing requirements set out by the NYSE American, and that their delisting likely affects any publicly traded securities they hold. Until June 11th, Impac’s common stock will acquire a “Y” prefix, indicating a foreign security, and will be able to trade until the closing of business on that day.
You can read this full article at: https://www.housingwire.com/articles/nyse-american-to-delist-impacs-common-stock/(subscription required)
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