Ampio Announces Voluntary Delisting and SEC Deregistration
The Company today notified the NYSE American of its intention to voluntarily delist its shares of common stock from the NYSE American. The Company intends to file a Form 25 with the
Following the delisting of the Company's common stock from the NYSE American, the Company intends to file a Form 15 with the
The Board made the decision to pursue delisting and deregistration of its common stock following its review and careful consideration of a number of factors, including, but not limited to, the Company's current and likely future non-compliance with the continued listing requirements of the NYSE American that would inevitably result in delisting of the Company's common stock by the NYSE American and the required personnel resources and the high costs relating to Exchange Act and NYSE American disclosure and reporting requirements and related regulatory burdens, which have resulted and would continue to result in significant operating expense. In light of these factors, the Board has determined that it is in the Company's best interests that the Company take steps designed to ensure sufficient cash to adequately fund an orderly wind down of the Company's operations and to maximize the Company's cash position.
About
Caution Regarding Forward-Looking Statements
All statements other than statements of historical facts contained in this press release, including statements regarding future expectations, plans and prospects for the Company, including but not limited to statements about the expected timing of the delisting from the NYSE American and deregistration of the Company's common stock, the Company's ability to preserve cash in order to adequately fund an orderly wind down of the Company's operations, and the Company's actions to maximize the Company's cash position, are forward-looking statements. Words such as "may", "will", "should", "forecast", "could", "expect", "suggest", "believe", "estimate", "continue", "anticipate", "intend", "ongoing", "opportunity", "potential", "predicts", "seek", "plan," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology, typically identify forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties including: (i) the ability to retain key personnel in order to pursue the wind down of the Company's operations, cash conservation plan, and resolution of the Company's pending legal proceedings; (ii) our available alternatives are limited and there is no assurance that any alternative will result in any distribution to or cash return to our stockholders; (iii) we plan to initiate steps to exit from certain reporting requirements under the Exchange Act, which will substantially reduce publicly available information about us; (iv) currently pending legal proceedings and any future legal proceedings may adversely affect our cash position and limit our pursuit of strategic options; (v) the settlement in principle of certain legal actions is subject to a number of conditions and risks; (vi) with the Board approval to delist our stock, we expect a negative impact on the price of our stock and the ability to sell our common stock in the public market; and (vii) other important factors that are described in "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended
We undertake no obligation to update or revise publicly any forward-looking statements to reflect events or circumstances after the date of such statements for any reason, except as otherwise required by law.
For more information, contact:
Chief Executive Officer
mmartino@ampiopharma.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/ampio-announces-voluntary-delisting-and-sec-deregistration-302098667.html
SOURCE