Tucson Future (TSP.US) announced on Wednesday that it has decided to voluntarily delist from NASDAQ. As of press release, Tucson Future is down 39.13% to $0.43 in the premarket.
The Zhitong Finance App learned that Tucson Future (TSP.US) announced on Wednesday that it has decided to voluntarily delist from NASDAQ and terminate registration with the US Securities and Exchange Commission (SEC).
Decisions on delisting and deregistration are made by a special committee of the company's board of directors.
In a statement, Tucson Future said, “Since the company's initial public offering (IPO) in 2021, there have been significant changes in the capital market... the company's valuation and liquidity have declined, while the volatility of the company's stock price has increased significantly... (As a result) the benefits of continuing the public listing are difficult to explain the rationality of the costs.”
As of press release, Tucson is currently down 39.13% to $0.43 in the premarket.