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Cumulus Stock to Move From NASDAQ to OTCQX


Cumulus Media
Cumulus Media

Cumulus Media has received a notification from NASDAQ indicating that, as a result of the company's non-compliance with NASDAQ listing rules, shares of its Class A common stock will be delisted on November 22. This after the bid price closed below $1.00 per share for the last 180 business days without regaining compliance. However, Cumulus has been approved to trade on the OTC market under the same ticker -- CMLS -- beginning November 22.

In an 8K filing with the SEC, "The transition to the quotation of the company's Class A common stock on the OTCQX will have no effect on the company's business or operations. The company will continue to file periodic and other required reports with the SEC."

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