American Oncology Network Announces the Commencement of OTCQX Trading
American Oncology Network (AON) announced its transition from NASDAQ to the OTCQX Best Market, trading under the symbol AONC. The move aims to enhance transparency and convenience for U.S. investors, brokers, and institutions. CEO Todd Schonherz highlighted the benefits of OTCQX, including adherence to high financial standards and improved trading experiences. Shares and warrants began trading on June 10, 2024, with warrants being listed on OTCQB as AONCW. The company aims to expand its network of oncology practices, offering affordable cancer care nationwide. Financial disclosures and real-time quotes are available on otcmarkets.com.
- Transition to OTCQX Best Market aims to improve transparency and convenience for investors.
- Adherence to high financial standards and best practice corporate governance.
- Expansion of oncology practices, potentially increasing market reach and revenue.
- CEO's confidence in long-term value creation for shareholders.
- Moving from NASDAQ to OTCQX may be perceived as a downgrade by some investors.
- Potential challenges in maintaining investor confidence due to market transition.
- Possible short-term volatility in stock price due to change in trading platform.
FORT MYERS, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- American Oncology Network, Inc. (AON) (OTCQX: AONC), a rapidly-growing network of community-based oncology practices, today announced it has qualified to trade on the OTCQX® Best Market. AON previously traded on NASDAQ.
The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade AONC. The OTCQX Best Market is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. It offers investors transparent trading in companies that meet high financial standards, follow best practice corporate governance, and demonstrate compliance with U.S. securities laws. OTCQX quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
“We’re pleased to qualify for the OTCQX Market to provide investors transparent trading at OTC Markets Group’s highest tier," said Todd Schonherz, AON’s chief executive officer. “Trading on OTCQX will provide shareholders transparency and convenience as we continue to expand our reach and provide patients quality, affordable, and accessible cancer care in communities across the nation. We are confident in the long-term value creation opportunity of our business as we look forward to continuing to update the market on our performance in the coming quarters.”
Class A Common Stock of American Oncology Network, Inc. begins trading today on OTCQX under the symbol “AONC.” Warrants of American Oncology Network, Inc. begins trading today on the OTCQB under the symbol “AONCW.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
About OTC Markets Group, Inc.
OTC Markets Group, Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
About American Oncology Network, Inc.
American Oncology Network, Inc. (AON) (OTCQX: AONC) is an alliance of physicians and seasoned healthcare leaders partnering to ensure the long-term success and viability of community oncology and other specialties. Founded in 2018, AON’s rapidly expanding network represents more than 240 providers practicing across 21 states. AON pioneers innovative healthcare solutions through its physician-led model, fostering value-based care that improves patient outcomes while reducing costs and expanding access to quality care. AON equips its network physicians with the tools they need to thrive independently while providing comprehensive support, integrated revenue-diversifying ancillary services, and practice management expertise, enabling physicians to focus on what matters most – providing the highest standard of care for every patient. AON is committed to promoting health equity by addressing disparities in cancer care and ensuring that all patients have access to the care they need to achieve optimal health outcomes. With a focus on innovation and collaboration, AON is shaping the future of community oncology. Learn more at www.AONcology.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements. Forward-looking statements generally relate to future events including future financial or operating performance of American Oncology Network, Inc. (“AON”). Forward-looking statements generally relate to future events or AON’s future financial or operating performance. For example, projections of future revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by AON and its management, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond AON’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (2) costs related to operating as a public company (3) changes in applicable laws or regulations; (4) the possibility that AON may be adversely affected by other economic, business, and/or competitive factors; (5) AON’s estimates of expenses and profitability; and (6) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in AON’s annual report on Form 10-K filed with the SEC on March 28, 2024, as amended, and in its quarterly reports and current reports subsequently filed with the SEC. AON cautions that the foregoing list of factors is not exclusive or exhaustive and investors should not place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. If any of these risks materialize or AON’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that AON does not presently know or that AON currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect AON’s expectations, plans or forecasts of future events and views as of the date of this communication. New AON anticipates that subsequent events and developments will cause AON’s assessments to change. However, while AON may elect to update these forward-looking statements at some point in the future, AON specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing AON’s assessments as of any date subsequent to the date of this communication. AON does not give any assurance that AON will achieve its expectations. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Investor Contact:
Solebury Strategic Communications
Investors@AONcology.com
Media Contact:
Karen Riley Sawyer
Karen.Sawyer@AONcology.com
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