The Real Good Food Company Announces Intent to Voluntarily Delist from Nasdaq and Deregister with the SEC
The Real Good Food Company (RGF) has announced its intention to voluntarily delist from Nasdaq and deregister with the SEC, following a Board of Directors decision on January 27, 2025. The decision comes after Nasdaq's announcement to suspend trading in the company's stock and eventual delisting plans.
The company cited significant financial and administrative requirements of being a public company as factors in this decision. RGF plans to file Form 25 with the SEC around February 10, 2025, to initiate the delisting process, which will become effective after ten days. Subsequently, the company will file Form 15 to deregister, immediately ending its obligation to file periodic reports including Forms 10-K, 10-Q, and 8-K.
The Real Good Food Company (RGF) ha annunciato la sua intenzione di ritirarsi volontariamente dal Nasdaq e di deregistrarsi presso la SEC, dopo una decisione del Consiglio di Amministrazione del 27 gennaio 2025. Questa decisione è seguita all'annuncio del Nasdaq di sospendere le contrattazioni delle azioni della società e ai piani di eventuale delisting.
La società ha citato i significativi requisiti finanziari e amministrativi legati all'essere una società pubblica come fattori determinanti in questa decisione. RGF prevede di presentare il Modulo 25 alla SEC intorno al 10 febbraio 2025, per avviare il processo di delisting, che diventerà efficace dopo dieci giorni. Successivamente, l'azienda presenterà il Modulo 15 per la deregistrazione, ponendo fine immediatamente ai suoi obblighi di presentare rapporti periodici, inclusi i Moduli 10-K, 10-Q e 8-K.
The Real Good Food Company (RGF) ha anunciado su intención de deslistar voluntariamente del Nasdaq y de darse de baja ante la SEC, tras una decisión de su Junta Directiva el 27 de enero de 2025. Esta decisión se produce tras el anuncio de Nasdaq de suspender la negociación de las acciones de la compañía y los planes de eventual deslistado.
La compañía citó los significativos requisitos financieros y administrativos que implica ser una empresa pública como factores en esta decisión. RGF planea presentar el Formulario 25 ante la SEC alrededor del 10 de febrero de 2025 para iniciar el proceso de deslistado, el cual se hará efectivo después de diez días. Posteriormente, la empresa presentará el Formulario 15 para darse de baja, finalizando inmediatamente su obligación de presentar informes periódicos, incluidos los Formularios 10-K, 10-Q y 8-K.
리얼 굿 푸드 컴퍼니(RGF)는 2025년 1월 27일 이사회 결의에 따라 자발적으로 나스닥에서 상장 폐지하기로 했다고 발표했습니다. 이번 결정은 나스닥이 회사의 주식 거래를 일시 중단하고 상장 폐지 제안을 한 뒤에 나온 것입니다.
회사는 상장 회사로서의 상당한 재정 및 행정적 요건을 이번 결정의 이유로 언급했습니다. RGF는 2025년 2월 10일 경 SEC에 서식 25를 제출하여 상장 폐지 절차를 시작할 계획이며, 이 절차는 10일 후에 효력이 발생합니다. 이후 회사는 서식 15를 제출하여 등록을 취소하며, 이에 따라 10-K, 10-Q 및 8-K 서식을 포함한 정기 보고서를 제출할 의무가 즉시 종료됩니다.
The Real Good Food Company (RGF) a annoncé son intention de se retirer volontairement du Nasdaq et de se deregister auprès de la SEC, suite à une décision du Conseil d'Administration prise le 27 janvier 2025. Cette décision fait suite à l'annonce de Nasdaq de suspendre la négociation des actions de l'entreprise et des plans de retrait éventuel.
L'entreprise a cité les exigences financières et administratives significatives liées à son statut de société cotée en bourse comme facteurs déterminants dans cette décision. RGF prévoit de déposer le Formulaire 25 auprès de la SEC vers le 10 février 2025 pour initier le processus de retrait, qui deviendra effectif dix jours après. Par la suite, l'entreprise déposera le Formulaire 15 pour la deregistration, mettant immédiatement fin à son obligation de soumettre des rapports périodiques, y compris les Formulaires 10-K, 10-Q et 8-K.
The Real Good Food Company (RGF) hat ihre Absicht angekündigt, sich freiwillig vom Nasdaq abzumelden und sich bei der SEC abzuregistrieren, was auf eine Entscheidung des Vorstands vom 27. Januar 2025 zurückgeht. Diese Entscheidung folgt auf die Ankündigung von Nasdaq, den Handel mit den Aktien des Unternehmens auszusetzen und eventuelle Abmeldungsmöglichkeiten zu prüfen.
Das Unternehmen hat erhebliche finanzielle und administrative Anforderungen, die mit dem Status einer öffentlich-rechtlichen Gesellschaft verbunden sind, als Gründe für diese Entscheidung angeführt. RGF plant, etwa am 10. Februar 2025 das Formular 25 bei der SEC einzureichen, um den Abmeldeprozess zu initiieren, der nach zehn Tagen wirksam wird. Anschließend wird das Unternehmen das Formular 15 zur Deregistrierung einreichen, wodurch die Pflicht zur Einreichung periodischer Berichte, einschließlich der Formulare 10-K, 10-Q und 8-K, sofort endet.
- Reduction in administrative and financial costs associated with public company status
- Forced delisting from Nasdaq following trading suspension
- Loss of access to public capital markets
- Reduced liquidity for shareholders
- Decreased transparency due to end of SEC reporting requirements
Insights
The voluntary delisting and deregistration announcement from The Real Good Food Company marks a pivotal shift in the company's market presence and represents a significant concern for investors. This development comes after Nasdaq's initial trading suspension, indicating underlying issues that prompted the exchange's action.
The implications for shareholders are substantial and immediate:
- Trading liquidity will be severely impacted once the stock moves to over-the-counter (OTC) markets, typically resulting in wider bid-ask spreads and more challenging execution of trades
- Financial transparency will decrease significantly as the company will no longer be required to file periodic reports with the SEC
- Minority shareholders may face increased vulnerability without the protections afforded by SEC oversight and Nasdaq listing requirements
From the company's perspective, this move could yield annual cost savings of typically
The timing is particularly noteworthy - with the Form 25 filing planned for February 10 and the Form 15 to follow after the 10-day waiting period, shareholders have a narrow window to make investment decisions. This compressed timeline suggests urgency in the company's decision-making process and could indicate underlying financial or operational pressures.
For a small-cap company with a market capitalization of approximately
CHERRY HILL, N.J., Jan. 30, 2025 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (Nasdaq: RGF) (“Real Good Foods” or the “Company ”), a leading health and wellness frozen and refrigerated foods company, is announcing its intention to voluntarily delist its common stock from the Nasdaq Stock Market, LLC (“Nasdaq”) and subsequently deregister with the Securities and Exchange Commission (“SEC”), following the decision of the Company’s Board of Directors on January 27, 2025.
The decision to voluntarily delist and deregister from the SEC was made after careful consideration by the Board of Directors of various factors, including Nasdaq’s announcement that it had suspended trading in the Company’s stock and would eventually delist the Company, along with the significant financial and administrative requirements that come with being a public company.
The Company intends to voluntarily file with the SEC a Form 25 to delist its stock on or about February 10, 2025, and, once the delisting becomes effective ten days later, the Company will file a Form 15 to deregister with the SEC. Upon the filing of the Form 15, the Company’s obligation to file periodic reports with the SEC, including Forms 10-K, 10-Q, and 8-K, will immediately cease.
About Real Good Food Company
Real Good Foods (Nasdaq: RGF) is a leading health and wellness frozen and refrigerated foods company, providing a better way to enjoy your favorite foods. The Company’s mission is to provide “Real Food You Feel Good About Eating”, making delicious, nutritious foods that are low in sugar, low in carbohydrates and high in protein. The Real Good Foods family of products includes breakfast, lunch, dinner, and snacks – available in over 16,000 stores nationwide with additional direct-to-consumer options.
To learn more, please visit our website at realgoodfoods.com or join us on social media @realgoodfoods – where we maintain some of the largest followings in the frozen food industry today.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding Company’s plan to regain compliance with Nasdaq Listing Rule 5550(a)(2). The Company has attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” or “would,” and similar expressions or the negative of these expressions.
Forward-looking statements represent management’s current expectations and predictions and are based on information available as of the time such statements are made. Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, it cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause its actual results or events, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause its actual results to materially differ from those expressed or implied by these forward-looking statements, including the risk factors described in the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2022 and other documents filed with or furnished to the SEC by the Company from time to time. These forward-looking statements speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.
Investor Relations Contact
The Real Good Food Company
3 Executive Campus, Suite 155
Cherry Hill, NJ 08002
ir@realgoodfoods.com
FAQ
When will RGF stock be delisted from Nasdaq?
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