Venus Concept Inc. (VERO), a global medical aesthetic technology company, announced its intention to voluntarily delist its common stock from the Nasdaq Capital Market and deregister its securities with the U.S. Securities and Exchange Commission (SEC).
The decision marks a significant strategic turn for the company as it reassesses its capital market presence and long-term operating structure.
Venus Concept develops and markets a broad portfolio of minimally invasive and non-invasive aesthetic and hair restoration technologies, reaching more than 60 countries. Its platforms include Venus Versa, Venus Legacy, Venus Viva, Venus Bliss and the ARTAS iX robotic hair restoration system, supported by a network of direct markets and global distributors.
Company Announces Plans to Delist and Deregister
According to the company's announcement, Venus Concept intends to file a Form 25 with the SEC to remove its common stock from listing on Nasdaq. Once the delisting takes effect, the company plans to file a Form 15 to suspend its reporting obligations under the Securities Exchange Act of 1934.
The company stated that the decision was made after evaluating the costs, compliance requirements, and administrative burdens associated with maintaining a public listing.
Venus Concept noted that deregistering and delisting are expected to reduce expenses and allow management to focus more directly on operational execution and long-term strategic priorities.
Next Steps
The delisting is expected to become effective 10 days after the Form 25 is filed with the SEC. After deregistration, Venus Concept will no longer be required to file quarterly, annual or current reports, though it may continue to provide updates to stakeholders at its discretion.
https://www.nasdaq.com/articles/venus-concept-shares-plunge-50-voluntary-nasdaq-delisting-decision
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