BowFlex, Inc. reported that its Common Stock was assigned the symbol “BFXXQ” with respect to quotations on the over-the-counter (OTC) market following its delisting from the New York Stock Exchange.
BowFlex previously announced that the NYSE determined that the company is no longer suitable for listing after it disclosed that it and certain of its subsidiaries voluntarily initiated a Chapter 11 proceeding in The U.S. for the District of New Jersey. The company said there is uncertainty about the ultimate effect of this process on the value of the company’s common stock, and stockholders may not receive any value.
The company is not obligated to develop or maintain a market in the common stock. The company cannot assure that its common stock will trade on the OTC Market, that brokers will provide public quotes of its common stock or that a market for its common stock will develop or be maintained. Holders of common stock may not be able to sell or otherwise transfer such common stock.
Image courtesy Bowflex
