7 posts and columns on delisting

Sirius Posts a Profit

in News on May 4, 2010 at 5:01 am PT

Sirius XM Radio’s latest quarter turned out to be a decent one for the satellite radio operator. Posting first-quarter earnings this morning, the company reported a profit of $41.6 million, or one cent a share, compared with a year-earlier loss of $52.6 million, or seven cents a share.
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Run, Blue Dog, Run: Sirius Avoids Delisting

in News on April 27, 2010 at 3:11 pm PT

Looks like Sirius XM Radio will not be booted from NASDAQ. As of market close today, the company’s shares have traded above $1 for 10 straight days, putting it back in compliance with NASDAQ’s minimum bid requirement.
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Sirius: We’ll Just Put This Delisting Notice in the Circular File

in News on March 18, 2010 at 4:10 am PT

It was inevitable, really. Having given up the gains that pushed its shares past $1 and failed to close over that threshold for 10 straight days by March 15, Sirius XM invited a delisting notice. And Wednesday afternoon Nasdaq gave it one.

Potential Sirius Delisting Postponed Until November

in News on January 28, 2009 at 9:13 am PT

Sirius XM Radio caught a lucky break recently when NASDAQ added another three months to a suspension of its delisting rules. With a share price below the $1 minimum price requirement to remain listed on the exchange, the struggling satellite radio broadcaster’s delisting seemed imminent. No longer.

Approve a Massive Stock Dilution? Surely, You Can't Be Serious…I Am Sirius, and Stop Calling Me Shirley.

in News on December 19, 2008 at 9:04 am PT

At Sirius XM’s annual meeting Thursday, shareholders approved a reverse stock split plan that empowers the board to split common Sirius shares by a 1-for-10 to 1-for-50 ratio by end of 2009. They also approved the issuance of up to 3.5 billion new shares. Should Sirius need to, it can now effect a reverse split that will raise its stock price above the $1 necessary to avoid delisting and sell new shares to meet the almost $1 billion in loan repayments it faces next year.

Approve a Massive Stock Dilution? Surely, You Can’t Be Serious…I Am Sirius, and Stop Calling Me Shirley.

in News on December 19, 2008 at 9:04 am PT

At Sirius XM’s annual meeting Thursday, shareholders approved a reverse stock split plan that empowers the board to split common Sirius shares by a 1-for-10 to 1-for-50 ratio by end of 2009. They also approved the issuance of up to 3.5 billion new shares. Should Sirius need to, it can now effect a reverse split that will raise its stock price above the $1 necessary to avoid delisting and sell new shares to meet the almost $1 billion in loan repayments it faces next year.

Nortel Agonistes

in News on December 12, 2008 at 2:53 pm PT

Nortel Networks is slipping closer to the abyss each day. Earlier this week it was reported that the long-suffering telecommunications equipment maker is seeking advice from Lazard Ltd. and law firm Cleary Gottlieb Steen & Hamilton about bankruptcy proceedings. Now comes news that it’s received a delisting notice from the New York Stock Exchange.