Delisting of Securities of BIMI International Medical Inc.; The Dixie Group, Inc.; Clover Leaf Capital Corp.; Focus Impact BH3 Acquisition Company; Forza X1, Inc.; Vertex Energy, Inc; Slam Corp.; and HHG Capital Corporation from The Nasdaq Stock Market
Nasdaq Stock Market has announced the delisting of securities from eight companies: BIMI International Medical, The Dixie Group, Clover Leaf Capital Corp, Focus Impact BH3 Acquisition Company, Forza X1, Vertex Energy, Slam Corp, and HHG Capital All affected companies had their trading suspended between August and October 2024, and none have traded on Nasdaq since their respective suspension dates.
The delistings affect various types of securities including common stocks, Class A ordinary shares, units, warrants, and rights, depending on the company. The suspensions occurred in the following sequence: BIMI (Aug 22), Slam Corp (Aug 27), Clover Leaf Capital (Sept 4), Dixie Group (Oct 3), HHG Capital (Oct 4), Vertex Energy (Oct 8), Forza X1 (Oct 10), and Focus Impact BH3 (Oct 15).
Il Nasdaq Stock Market ha annunciato il delisting dei titoli di otto aziende: BIMI International Medical, The Dixie Group, Clover Leaf Capital Corp, Focus Impact BH3 Acquisition Company, Forza X1, Vertex Energy, Slam Corp e HHG Capital. Tutte le aziende interessate hanno avuto la loro negoziazione sospesa tra agosto e ottobre 2024, e nessuna ha negoziato su Nasdaq dalla data delle rispettive sospensioni.
I delisting riguardano vari tipi di titoli, inclusi azioni ordinarie, azioni di Classe A, unità, warrant e diritti, a seconda dell'azienda. Le sospensioni sono avvenute nella seguente sequenza: BIMI (22 agosto), Slam Corp (27 agosto), Clover Leaf Capital (4 settembre), Dixie Group (3 ottobre), HHG Capital (4 ottobre), Vertex Energy (8 ottobre), Forza X1 (10 ottobre) e Focus Impact BH3 (15 ottobre).
El Nasdaq Stock Market ha anunciado la exclusión de valores de ocho empresas: BIMI International Medical, The Dixie Group, Clover Leaf Capital Corp, Focus Impact BH3 Acquisition Company, Forza X1, Vertex Energy, Slam Corp y HHG Capital. Todas las empresas afectadas tuvieron su negociación suspendida entre agosto y octubre de 2024, y ninguna ha negociado en Nasdaq desde sus respectivas fechas de suspensión.
Las exclusiones afectan varios tipos de valores, incluyendo acciones ordinarias, acciones ordinarias de Clase A, unidades, opciones y derechos, dependiendo de la empresa. Las suspensiones ocurrieron en la siguiente secuencia: BIMI (22 de agosto), Slam Corp (27 de agosto), Clover Leaf Capital (4 de septiembre), Dixie Group (3 de octubre), HHG Capital (4 de octubre), Vertex Energy (8 de octubre), Forza X1 (10 de octubre) y Focus Impact BH3 (15 de octubre).
나스닥 증권 거래소가 8개 회사의 증권 상장을 폐지한다고 발표했습니다: BIMI International Medical, The Dixie Group, Clover Leaf Capital Corp, Focus Impact BH3 Acquisition Company, Forza X1, Vertex Energy, Slam Corp, 및 HHG Capital. 영향을 받은 모든 회사는 2024년 8월과 10월 사이에 거래가 중단되었으며, 해당 중단 날짜 이후로 나스닥에서 거래된 적이 없습니다.
상장 폐지는 일반 주식, A종류의 보통 주식, 유닛, 워런트 및 권리 등 다양한 종류의 증권에 영향을 미치며, 이는 회사에 따라 다릅니다. 거래 중단은 다음과 같은 순서로 발생했습니다: BIMI (8월 22일), Slam Corp (8월 27일), Clover Leaf Capital (9월 4일), Dixie Group (10월 3일), HHG Capital (10월 4일), Vertex Energy (10월 8일), Forza X1 (10월 10일), Focus Impact BH3 (10월 15일).
Le Nasdaq Stock Market a annoncé le retrait de la cote de titres de huit entreprises : BIMI International Medical, The Dixie Group, Clover Leaf Capital Corp, Focus Impact BH3 Acquisition Company, Forza X1, Vertex Energy, Slam Corp et HHG Capital. Toutes les entreprises concernées ont eu leur négociation suspendue entre août et octobre 2024, et aucune n'a été négociée sur Nasdaq depuis leurs dates de suspension respectives.
Les retraits concernent divers types de titres, y compris des actions ordinaires, des actions ordinaires de Classe A, des unités, des bons de souscription et des droits, selon l'entreprise. Les suspensions se sont produites dans l'ordre suivant : BIMI (22 août), Slam Corp (27 août), Clover Leaf Capital (4 septembre), Dixie Group (3 octobre), HHG Capital (4 octobre), Vertex Energy (8 octobre), Forza X1 (10 octobre) et Focus Impact BH3 (15 octobre).
Der Nasdaq Stock Market hat die Abmeldung von Wertpapieren von acht Unternehmen bekannt gegeben: BIMI International Medical, The Dixie Group, Clover Leaf Capital Corp, Focus Impact BH3 Acquisition Company, Forza X1, Vertex Energy, Slam Corp und HHG Capital. Alle betroffenen Unternehmen hatten ihren Handel zwischen August und Oktober 2024 ausgesetzt, und seit den jeweiligen Aussetzungstagen wurde auf Nasdaq nicht mehr gehandelt.
Die Abmeldungen betreffen verschiedene Arten von Wertpapieren, einschließlich Stammaktien, Klasse-A-Stammaktien, Einheiten, Warrants und Rechte, je nach Unternehmen. Die Aussetzungen erfolgten in folgender Reihenfolge: BIMI (22. August), Slam Corp (27. August), Clover Leaf Capital (4. September), Dixie Group (3. Oktober), HHG Capital (4. Oktober), Vertex Energy (8. Oktober), Forza X1 (10. Oktober) und Focus Impact BH3 (15. Oktober).
- None.
- Eight companies being simultaneously delisted from Nasdaq indicates significant compliance or performance issues
- Complete suspension of trading for all affected securities since their respective suspension dates
- Multiple security types affected across companies, indicating broad-based compliance failures
Insights
This mass delisting event involving eight companies represents a notable regulatory action by Nasdaq that warrants attention. The affected companies span various sectors and include several SPACs (Special Purpose Acquisition Companies), highlighting ongoing market quality enforcement. Vertex Energy, previously a significant player in the energy sector, stands out among the delistings due to its larger market presence.
The pattern of suspensions followed by delistings typically indicates serious compliance issues, whether financial reporting deficiencies, minimum bid price failures, or other listing standard violations. This wave of delistings could signal increased scrutiny of listing compliance by Nasdaq, particularly regarding SPACs, which have faced heightened regulatory attention. For existing Nasdaq-listed companies, this serves as a reminder of the exchange's commitment to maintaining listing standards.
The timing of these delistings, coming after extended suspension periods of 3-5 months, suggests these companies failed to address their compliance issues during their appeal periods. This systematic cleanup of non-compliant issuers helps maintain market integrity but may also indicate broader stress in certain market segments, particularly among smaller capitalization stocks and SPACs.
The concurrent delisting of multiple securities indicates a systematic enforcement of Nasdaq's listing standards, particularly Rule 5800 Series. The affected companies include three SPAC structures (Slam Corp., Clover Leaf Capital and Focus Impact BH3), demonstrating heightened scrutiny in this space. The uniform pattern - suspension followed by delisting - suggests these companies either failed to meet continued listing requirements or chose not to remedy their compliance issues.
Most striking is the inclusion of The Dixie Group and Vertex Energy, established companies with longer operating histories, pointing to potential broader market stress affecting even more seasoned issuers. The timing of suspensions clustered between August and October 2024 might indicate a coordinated review cycle by Nasdaq's listing qualifications department. These actions reinforce the exchange's role in maintaining market quality through active enforcement of listing standards.
NEW YORK, Jan. 10, 2025 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the common stock of BIMI International Medical Inc. BIMI International Medical Inc.’s stock was suspended on August 22, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the Class A ordinary shares, unit, warrant of Slam Corp. Slam Corp.’s stock was suspended on August 27, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the Class A common stock, unit, and rights of Clover Leaf Capital Corp. Clover Leaf Capital Corp.’s stock was suspended on September 4, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of The Dixie Group, Inc. The Dixie Group, Inc.’s stock was suspended on October 3, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the ordinary shares, unit, warrant, right of HHG Capital Corporation. HHG Capital Corporation’s stock was suspended on October 4, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of Vertex Energy, Inc. Vertex Energy, Inc’s stock was suspended on October 8, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the common stock of Forza X1, Inc. Forza X1, Inc.’s stock was suspended on October 10, 2024 and has not traded on Nasdaq since that time.
Nasdaq also announced today that it will delist the Class A common stock, warrant, and unit of Focus Impact BH3 Acquisition Company. Focus Impact BH3 Acquisition Company’s stock was suspended on October 15, 2024 and has not traded on Nasdaq since that time.
For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.
FAQ
Why are these 8 companies being delisted from Nasdaq in January 2025?
What types of securities are affected by these Nasdaq delistings?
When were the trading suspensions implemented for these companies?
Where can investors find Nasdaq's rules regarding security delistings?
