Vaxxinity, Inc. (NASDAQ:VAXX) has announced its decision to voluntarily delist its Class A Common Stock from the Nasdaq Global Market. The biotechnology firm notified The Nasdaq Stock Market LLC of its plans today, with the intention to also deregister the stock and suspend its reporting obligations under the Securities and Exchange Act of 1934.
The company is set to file a Notification of Removal from Listing and/or Registration on Form 25 with the Securities and Exchange Commission (SEC) around April 29, 2024. This filing is expected to initiate the process of withdrawing its securities from the Nasdaq and deregistering them under Section 12(b) of the Exchange Act. The delisting and deregistration are anticipated to be effective around May 9, 2024.
Following the delisting, Vaxxinity plans to file a Form 15 with the SEC to further deregister the company’s securities under Section 12(g) of the Exchange Act. This action will suspend the company's reporting obligations under the same act.
The move to delist and deregister marks a significant change in Vaxxinity’s approach to public markets, as the company will no longer be required to file periodic reports and financial statements with the SEC, which were previously mandatory for publicly traded companies.
This news is based on a press release statement and reflects the company's current plans regarding its status on the Nasdaq Global Market. Investors and stakeholders are advised to monitor the company's filings for further details on the delisting and deregistration process.
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