SPAR Group Moves to OTCQB After Failed Reverse Split, Delisting Effective July 23
SGRP is trading near its 52-week low of $0.273 (5.3% below the low) on elevated volume (22× avg).
Summary
SPAR Group confirms its Nasdaq delisting takes effect July 23, with shares moving to the OTCQB under the same ticker. This follows the July 15 shareholder vote against a reverse split and the subsequent Nasdaq delisting notice. The transition does not affect operations or SEC reporting obligations, but the move to a less liquid venue caps a series of setbacks including a co-founder's exit and a dilutive debt settlement. The stock trades near its 52-week low at $0.258.
At the time of this announcement, SGRP was trading at $0.26 on OTC in the Trade & Services sector, with a market capitalization of approximately $8.2M. The 52-week trading range was $0.27 to $1.41. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.