BioFuel gets Nasdaq listing notice, -17.5% AH


BioFuel Energy (BIOF) -17.5% AH after disclosing in an 8-K filing that its shares are in danger of being delisted from the Nasdaq exchange.

BIOF says in the filing it received a letter from Nasdaq's listing qualifications staff calling the company a "public shell," and that buyers of its stock can't know definitively what the operating business of the company will be in the future.

The letter says BIOF shares will be suspended and removed from the exchange unless BIOF requests an appeal, which the company says it will do.

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Comments (2)
  • ep780
    , contributor
    Comments (3) | Send Message
     
    The Company will present to the Panel its plan to cease to be a shell company as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended, which may include the consummation of one or more strategic transactions currently being evaluated by a special committee of the Company's Board of Directors.
    12 May 2014, 06:30 PM Reply Like
  • Special Situations Monitor
    , contributor
    Comments (175) | Send Message
     
    Thanks for pointing out the only relevant and useful portion of the 8k.
    12 May 2014, 06:40 PM Reply Like
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