Destination XL Group, Inc. Announces Transition to OTCQX from Nasdaq Capital Market
As previously disclosed, the Company has received notices from Nasdaq regarding noncompliance with its continued listing requirements. In
With respect to this Listing Rule, at
The Company’s Board of Directors believes that it is in the best interest of the Company and its stockholders to delist from Nasdaq at this time. This decision was based on several factors, including the cost to stay listed on Nasdaq, the feasibility of regaining compliance with the Listing Standards of Nasdaq, as well as the impact that the COVID-19 pandemic has had on the Company’s revenues and the uncertainty regarding its duration.
The Company currently anticipates that it will file with the
Certain statements and information contained in this press release constitute forward-looking statements under the federal securities laws, including statements regarding the expected timing and process for delisting the Company’s common stock and quotation on the OTCQX. These statements are based upon management’s current expectations and the actual implementation of its plan may differ materially from forward-looking statements made by the Company. The Company encourages readers of forward-looking information concerning the Company to refer to its filings with the
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Source: Destination XL Group, Inc.