Wilhelmina International, Inc. Announces December 27, 2024 as Anticipated Last Day of Trading on the Nasdaq Capital Market

Rhea-AI Summary

Wilhelmina International (NASDAQ:WHLM) has announced a correction to its voluntary delisting timeline from the Nasdaq Capital Markets. The company's last trading day on Nasdaq will be Friday, December 27, 2024, rather than the previously announced December 31, 2024. After delisting, trading of Wilhelmina's Common Stock will be to privately negotiated sales and potentially over-the-counter markets if brokers make a market in the shares. However, there is no guarantee of continued trading availability through these alternative channels.

Positive

• None.

Negative

• Voluntary delisting from Nasdaq Capital Markets
• Reduced trading accessibility for shareholders post-delisting
• No guarantee of continued trading availability in OTC markets
• Potential decrease in stock liquidity

Insights

Financial Markets Expert

The voluntary delisting from Nasdaq represents a significant shift in WHLM's market presence. This move typically signals reduced liquidity and market access for shareholders. The accelerated timeline, moving from December 31 to December 27, 2024, gives investors less time to adjust their positions. The transition to over-the-counter (OTC) trading, if it materializes, would likely result in wider bid-ask spreads and potentially lower trading volumes.

For retail investors, this means:

• Reduced ability to easily buy or sell shares
• Potentially lower share prices due to decreased liquidity
• Higher transaction costs due to wider spreads

The absence of a guaranteed market maker for OTC trading adds another layer of uncertainty. With a market cap of just $17.4 million, this delisting could significantly impact the company's ability to raise capital in the future.

Corporate Governance Analyst

The voluntary delisting decision indicates potential strategic shifts at Wilhelmina International. This move typically aims to reduce compliance costs and administrative burdens associated with maintaining a Nasdaq listing. However, it also suggests the company may be struggling to meet Nasdaq's continued listing requirements or finds the cost-benefit ratio of public listing unfavorable.

The expedited delisting timeline raises questions about the urgency behind this decision. Shareholders should note that post-delisting:

• Financial reporting requirements may become less stringent
• Corporate governance oversight could decrease
• Access to company information might become more

This structural change fundamentally alters the investment thesis for WHLM, particularly for institutional investors who may have mandate restrictions against holding non-listed securities.

LONDON, UK / ACCESSWIRE / December 23, 2024 / Wilhelmina International, Inc. (NASDAQ:WHLM) ("Wilhelmina" or the "Company") announced on Friday December 20, 2024 its intention to voluntarily delist its shares of Common Stock from the Nasdaq Capital Markets and to deregister the shares of Common Stock under Section 12(b) of the Securities Exchange Act of 1934. That announcement listed the anticipated last day of trading on the Nasdaq Capital Market as Tuesday, December 31, 2024; however, that date was incorrect. The Company expects the last day of trading for its shares of Common Stock to be Friday, December 27, 2024.

Following the delisting, any trading in Wilhelmina's Common Stock would occur only in privately negotiated sales and potentially on an over-the- counter market if a broker makes a market in the shares. There is no guarantee, however, that a broker will make such a market or that trading of the shares of Wilhelmina Common Stock will continue on an over-the-counter market or otherwise.

Forward-Looking Statements
This press release contains certain "forward-looking" statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company are based on the beliefs of the Company's management as well as information currently available to the Company's management. When used in this report, the words "anticipate," "believe," "estimate," "expect" and "intend" and words or phrases of similar import, as they relate to the Company or Company management, are intended to identify forward-looking statements. Such forward-looking statements include, in particular, projections about the Company's future results, statements about its plans, strategies, business prospects, changes and trends in its business and the markets in which it operates. Additionally, statements concerning future matters such as gross billing levels, revenue levels, expense levels, and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward- looking statements relate to future events or the Company's future financial performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance, or achievements of its business or its industry to be materially different from those expressed or implied by any forward-looking statements. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. The Company does not undertake any obligation to publicly update these forward-looking statements. As a result, no person should place undue reliance on these forward- looking statements.

About Wilhelmina International, Inc. (www.wilhelmina.com):
Wilhelmina, together with its subsidiaries, is an international full-service fashion model and talent management service, specializing in the representation and management of leading models, celebrities, artists, photographers, athletes, and content creators. Established in 1967 by fashion model Wilhelmina Cooper, Wilhelmina is one of the oldest and largest fashion model management companies in the world. Wilhelmina is publicly traded on the Nasdaq Capital Market under the symbol WHLM. Wilhelmina is headquartered in New York and, since its founding, has grown to include operations in Los Angeles, Miami and London. Wilhelmina also owns Aperture, a talent and commercial agency located in New York and Los Angeles. For more information, please visit www.wilhelmina.com and follow @WilhelminaModels.

CONTACT:
Investor Relations
Wilhelmina International, Inc.
214-661-7488
ir@wilhelmina.com

SOURCE: Wilhelmina International, Inc.

View the original press release on accesswire.com

FAQ

When is WHLM's last trading day on Nasdaq?

Wilhelmina International's (WHLM) last trading day on the Nasdaq Capital Market will be Friday, December 27, 2024.

Where can investors trade WHLM stock after the Nasdaq delisting?

After delisting, WHLM shares can only be traded through privately negotiated sales and potentially on over-the-counter markets if brokers make a market in the shares.

Why is WHLM delisting from Nasdaq?

Wilhelmina International has announced its intention to voluntarily delist from Nasdaq and deregister its Common Stock under Section 12(b) of the Securities Exchange Act of 1934.

What happens to WHLM shareholders after the delisting?

Shareholders will have trading options after delisting, with no guarantee of continued trading availability through over-the-counter markets or other channels.