Nasdaq Stock Market delists the shares of Long Blockchain today, the company said in a announcement April 10.
Long Blockchain Corp. received a delisting determination letter from Nasdaq Hearings Panel on April 10. The Company appealed this determination and a hearing was held on March 22, 2018.
Long Blockchain Corp. (LBCC) first received a delist notice from Nasdaq on Feb. 15 for low market capitalization, after which the company appealed the determination and a hearing took place on March 22. The Nasdaq Hearings Panel ruled against Long Blockchain Corp.
LBCC will remain a public company following the delisting and its shares will continue to trade publicly.
“LBCC's transition to the over-the-counter market does not diminish the focus of its efforts to become a leader in blockchain technology,” the firm said.
Long Blockchain Corp. says it it is focused on developing and investing in globally scalable blockchain technology solutions. It is dedicated to becoming a significant participant in the evolution of blockchain technology that creates long term value for its shareholders and the global community by investing in and developing businesses that are "on-chain"
By Jade Olafson