Delisting of Securities of Town Sports International Holdings, Inc.; Lonestar Resources US Inc.; Oasis Petroleum Inc.; Atlas Financial Holdings, Inc.; and Zion Oil from The Nasdaq Stock Market

Rhea-AI Summary

The Nasdaq Stock Market announced the delisting of several companies due to prolonged trading suspensions. Town Sports International's common stock was suspended on September 24, 2020, and will be delisted along with Lonestar Resources and Oasis Petroleum, both suspended on October 12, 2020. Atlas Financial Holdings and Zion Oil also face delisting after their shares were suspended on September 2, 2020. Nasdaq will file a Form 25 with the SEC to formalize these delistings, effective ten days post-filing. For further details, companies' public filings are recommended.

Positive

• None.

Negative

• Delistings of multiple companies, indicating financial instability.
• Suspension of trading for all listed companies, reflecting a lack of liquidity and market confidence.

NEW YORK, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market announced today that it will delist the common stock, of Town Sports International Holdings, Inc. Town Sports International Holdings, Inc.’s common stock was suspended on September 24, 2020 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the Class A common stock of Lonestar Resources US Inc. Lonestar Resources US Inc.’s Class A common stock was suspended on October 12, 2020 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock of Oasis Petroleum Inc. Oasis Petroleum Inc.’s common stock was suspended on October 12, 2020 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the ordinary shares of Atlas Financial Holdings, Inc. Atlas Financial Holdings, Inc.’s ordinary shares was suspended on September 2, 2020 and has not traded on Nasdaq since that time.

Nasdaq also announced today that it will delist the common stock and warrants of Zion Oil. Zion Oil’s common stock and warrants were suspended on September 2, 2020 and has not traded on Nasdaq since that time.

Nasdaq will file a Form 25 with the Securities and Exchange Commission to complete the delistings. The delistings become effective ten days after the Form 25 is filed. For news and additional information about the companies, including the basis for the delisting and whether the companies’ securities are trading on another venue, please review the companies’ public filings or contact the company directly.

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: http://www.cchwallstreet.com/NasdaqTools/bookmark.asp?id=nasdaq-rule_5800&manual=/nasdaq/main/nasdaq-equityrules/.

-NDAQO-

FAQ

What companies are being delisted from Nasdaq?

Nasdaq is delisting Town Sports International, Lonestar Resources, Oasis Petroleum, Atlas Financial Holdings, and Zion Oil.

When will the delistings from Nasdaq be effective?

The delistings will become effective ten days after Nasdaq files a Form 25 with the SEC.

Why are these companies being delisted from Nasdaq?

These companies have faced prolonged trading suspensions, indicating financial instability.

What date was Town Sports International suspended from trading?

Town Sports International was suspended from trading on September 24, 2020.

What should investors do to find more information about the delisted companies?

Investors should review the companies' public filings or contact the companies directly for more information.