Vislink Technologies plans to voluntarily delist its common stock from Nasdaq, aiming to reduce operating costs and streamline focus.
Quiver AI Summary
Vislink Technologies, Inc. has announced its intention to voluntarily delist its common stock from the Nasdaq Capital Market, with plans to file a Form 25 notification with the SEC around February 10, 2025. The decision, made by the Company’s Board of Directors, is based on factors such as the lack of an active trading market for its securities and the financial burdens associated with maintaining compliance with Nasdaq and SEC reporting requirements. Following the delisting, Vislink expects its common stock to be traded on the OTC Markets Group, although it cannot guarantee ongoing market support. CEO Mickey Miller stated that this move is expected to save resources, allowing the Company to focus on product development and increasing shareholder value.
Potential Positives
- Vislink Technologies' decision to voluntarily delist from Nasdaq is intended to reduce operating expenses and regulatory burdens, allowing for reallocation of resources to product development and customer acquisition.
- The company plans to continue trading its common stock on the OTC Markets, ensuring that a market for its securities remains available for its investors.
- The Board of Directors believes the delisting is in the best interest of the company and its shareholders, suggesting a strategic realignment to enhance long-term shareholder value.
Potential Negatives
- Vislink's voluntary delisting from the Nasdaq indicates a lack of confidence in its market position, potentially signaling financial instability and reduced investor interest.
- The decision to delist due to "lack of an active trading market" suggests that liquidity concerns may lead to difficulty in securing future financing or selling shares for current investors.
- The move to the OTC Markets may result in decreased visibility and credibility, as trading on OTC tends to attract less attention and investment compared to Nasdaq-listed companies.
FAQ
Why is Vislink delisting its common stock from Nasdaq?
Vislink is delisting to save resources and focus on product development, as there's a lack of an active trading market.
When will Vislink's common stock be removed from Nasdaq?
The removal will be effective 10 days after filing a Form 25, expected around February 10, 2025.
What alternative trading market will Vislink's stock be listed on?
After delisting from Nasdaq, Vislink expects its stock to be quoted on the OTC Markets Group Inc.
What are the expected benefits of the delisting for Vislink?
The delisting is expected to provide significant savings in time and resources, allowing better focus on shareholder value.
How long has Vislink been a technology leader in live video communications?
Vislink has a heritage in video communications that spans over 50 years, innovating high-quality live video capture and delivery.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VISL Hedge Fund Activity
We have seen 8 institutional investors add shares of $VISL stock to their portfolio, and 1 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DIMENSIONAL FUND ADVISORS LP added 14,721 shares (+inf%) to their portfolio in Q3 2024, for an estimated $91,270
- UBS GROUP AG added 5,179 shares (+inf%) to their portfolio in Q3 2024, for an estimated $32,109
- GEODE CAPITAL MANAGEMENT, LLC added 1,293 shares (+6.1%) to their portfolio in Q3 2024, for an estimated $8,016
- TOWER RESEARCH CAPITAL LLC (TRC) removed 1,202 shares (-50.4%) from their portfolio in Q3 2024, for an estimated $7,452
- BANK OF AMERICA CORP /DE/ added 520 shares (+2080.0%) to their portfolio in Q3 2024, for an estimated $3,224
- FMR LLC added 12 shares (+inf%) to their portfolio in Q3 2024, for an estimated $74
- CWM, LLC added 5 shares (+inf%) to their portfolio in Q3 2024, for an estimated $31
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Mt. Olive, NJ, Jan. 31, 2025 (GLOBE NEWSWIRE) --
Vislink Technologies, Inc. (Nasdaq: VISL) (“Vislink” or the “Company”), a global technology leader in the capture, delivery, and management of high-quality, live video and associated data in the media and entertainment, public safety, and defense markets, today announced that it has provided notification to The Nasdaq Stock Market, LLC (“Nasdaq”) of its intent to voluntarily delist the Company’s common stock, par value $0.00001 per share (the “Common Stock”), from the Nasdaq Capital Market. Vislink expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the “SEC”) and Nasdaq relating to the delisting of its Common Stock on or about February 10, 2025. The removal of the Common Stock from Nasdaq will be effective 10 days after the filing of the Form 25.
The withdrawal of the Common Stock from listing and registration is being undertaken following a determination by the Company’s Board of Directors (the “Board”) that such delisting and deregistration is in the best interest of the Company and the holders of its Common Stock. The Board’s decision was based on a careful review of numerous factors, including but not limited to, the lack of an active trading market for the Company’s securities, the required resources and expenses relating to continued Securities Exchange Act of 1934 and Nasdaq disclosure and reporting requirements and related regulatory burdens which have resulted and would continue to result in significant operating expense and attention of the Company’s management team.
Following the delisting, the Company expects that the Common Stock will be quoted for trading on a market operated by the OTC Markets Group Inc. (the “OTC”) so that a trading market may continue to exist for such securities. There is no guarantee, however, that a broker will continue to make or maintain a market in the Common Stock.
“We believe delisting will help us realize significant savings in both time and resources that will allow us to better focus our energies on developing new products and customers that will deliver greater shareholder value in the long term,” said Mickey Miller, CEO of Vislink.
About Vislink
Vislink Technologies is a global technology leader in capturing, delivering, and managing high-quality live video and associated data. With a renowned heritage in video communications encompassing over 50 years, Vislink has revolutionized live video communications by delivering the highest-quality video from the scene, even in the most challenging transmission conditions, enabling broadcasters, defense, and public safety agencies to capture and share live video seamlessly and securely. Vislink provides live streaming solutions using RF, bonded cellular, 5G, and AI-driven technologies. Vislink’s shares of common stock are publicly traded on the Nasdaq Capital Market under the ticker symbol “VISL.” For more information, visit
www.vislink.com
.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements. The words “expect,” “intend,” “continue,” “potential,” “may,” “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include, but are not limited to, statements concerning the Company’s plans with respect to the delisting and deregistration of its Common Stock; the perceived benefits and timing of the delisting and deregistration; the Company’s expectations regarding and its ability to realize the value of its intellectual property assets; and the trading of the Common Stock. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the risk that the delisting and deregistration process will take longer than expected and that the benefits of such actions may not be realized; the impact of changing laws and regulations and those risks and uncertainties described in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on April 3, 2024, and its subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Readers should not rely upon this information as current or accurate after its publication date.
Media Contact:
Adrian Lambert
Adrian.lambert@vislink.com
Investor Relations:
investors@vislink.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
