Essex Rental Corp. has submitted a notice to the Nasdaq Stock Market to voluntarily withdraw the company’s common stock, par value $0.0001 per share, from listing on Nasdaq and to voluntarily terminate the registration of common stock. The crane rental firm will file a Notification of Removal with the Securities Exchange Commission on or about Dec. 18, which should result in the stock no longer being listed around Dec. 28.
Essex expects the stock to be quoted on OTC Pink Sheets, although there is no assurance of that occurring.
Once de-listed, the company’s periodic reporting obligations will be suspended, and thus Essex will no longer be required to file quarterly or annual reports. Essex received a letter from Nasdaq in August, notifying it that the company failed to meet the minimum $1 per share bid price requirement for continued listing on Nasdaq, and that the company had until Feb. 1, 2016, to regain compliance before it would be involuntarily delisted. Essex’ board of directors unanimously determined to voluntarily delist from Nasdaq.
The crane rental firm is based in Buffalo Grove, Ill.
