News: Business Environment
Events Calendar
0 Comments Share
YRC stock in danger of being delisted

KANSAS CITY – YRC's stock is at risk of being delisted from Nasdaq if it forges ahead with a plan to issue more common shares.

The plan is part of the beleaguered LTL carrier's financial restructuring.

According to the St. Louis Business Journal, the company in a Securities and Exchange Commission filing that it plans to ask for a waiver under a financial viability exception, but it might not get one.

YRC is proposing to exchanging some outstanding debt for equity, as well as issuing new equity to the Teamsters as part of a controversial concession deal it reached with the union.

In the filing YRC said even if Nasdaq officials don’t remove the stock because of the exchange, it could be in danger of delisting because shares probably would trade for less than the stock exchange’s minimum price of $1.

 
Email Editor     Comment Below
Rate this Article!
We Recommend:
Popular this Week:
ADVERTISEMENT
ADVERTISEMENT
Social Activity


(optional)

(optional)

(optional)

Notify me of other comments on this story (requires email and password)


* Please type the letters above exactly as they appear:  

Please Note:

While we value your feedback, please avoid profane or personal attacks. You should know that if your comment contains libelous, prejudicial or just plain wrong statements, it will be deleted.

Report Abuse

Video Reel