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iMedia Brands, Inc. (NASDAQ:IMBI) shares are trading lower by 11.19% to $0.12 Friday morning after the company has been notified by Nasdaq that its common stock and 8.5% Senior Notes due 2026 will be delisted as a result of the company's voluntary Chapter 11 bankruptcy filing.
What Else?
iMedia Brands says trading will be suspended from July 10. The company filed for Chapter 11 bankruptcy on June 28, to pursue strategic alternatives and continue the prepetition sale process.
See Also: June Nonfarm Payrolls Miss Estimates
Non-compliance notices were previously received for delayed filing of required reports. Earnings calls and investor conference participation are suspended, with updates provided through SEC filings and press releases.
According to data from Benzinga Pro, iMedia Brands has a 52-week high of $1.81 and a 52-week low of $0.11.
Posted In: IMBI
