Unit Corporation Announces Commencement of Trading on OTC Market

Rhea-AI Summary

Unit Corporation (OTC Pink: UNTC) has received approval from FINRA for a broker dealer to initiate a priced quotation of its common stock on the OTC Pink exchange. This development is expected to enhance the liquidity of UNTC's stock, providing a more accessible trading platform for investors. CEO Phil Smith expressed optimism about this move, believing it will benefit current and future shareholders. Unit Corporation is engaged in oil and gas exploration, production, contract drilling, and natural gas processing.

Positive

• Approval from FINRA for a broker dealer to trade UNTC stock on the OTC Pink.
• Potential increase in liquidity of common stock, benefiting current and future shareholders.

Negative

• Risks of limited liquidity and insufficient broker dealers trading UNTC stock, as highlighted in the forward-looking statements.

Unit Corporation (OTC Pink: UNTC) (Company) today announced that a broker dealer was approved by the Financial Industry Regulatory Authority (FINRA) to initiate a priced quotation of the Company's common stock on the OTC Pink under the ticker symbol "UNTC." Investors can find quotes for the Company's common stock on www.otcmarkets.com.

Phil Smith, Chief Executive Officer of the Company, stated, "We are pleased that our stock is now trading on the OTC Pink with the support of a market maker, as we believe it has the potential to increase the liquidity of our common stock on the OTC Pink, providing our current and future shareholders a platform on which they can conveniently trade our common stock."

About Unit Corporation

Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling and natural gas gathering and processing. For more information about Unit Corporation, visit its website at http://www.unitcorp.com.

Forward-Looking Statements

This press release has forward-looking statements within the meaning of the Private Securities Litigation Reform Act. All statements, other than statements of historical facts, included in this release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur are forward-looking statements. Several risks and uncertainties could cause actual results to differ materially from these statements, including not having enough broker dealers making a market in the Company’s stock, limited liquidity in the Company’s stock and factors described occasionally in the Company's publicly available SEC reports. The Company assumes no obligation to update publicly such forward-looking statements, whether because of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210326005259/en/

FAQ

What does the FINRA approval mean for UNTC stock?

The FINRA approval allows a broker dealer to initiate a priced quotation of UNTC stock on the OTC Pink, which may enhance trading liquidity.

How might the liquidity of UNTC stock change after this announcement?

The approval is expected to increase the liquidity of UNTC stock, making it easier for investors to trade.

What are the potential risks mentioned in the UNTC press release?

The press release indicates risks such as limited liquidity and not having enough broker dealers making a market in UNTC stock.

What is the significance of trading on the OTC Pink for UNTC?

Trading on the OTC Pink provides a platform for investors to conveniently trade UNTC stock, which may lead to increased market activity.

Who is the CEO of Unit Corporation, and what did he say about the stock quotation?

Phil Smith, CEO of Unit Corporation, stated that the new trading platform has the potential to increase liquidity for shareholders.