Aspyra has given notice to the N.Y. Stock Exchange that the company intends to voluntarily delist its common stock from the Exchange and deregister its common stock under the Securities Exchange Act of 1934.
The Westlake Village, Calif.-based RIS/PACS developer said its board of directors has elected to take this action, citing direct and indirect preparation and filing costs, the nature and limited extent of the trading in the common stock and that many advantages of being a public company are not sufficiently available to the company to justify such costs.
According to the company, it has not made any arrangements to have its common stock listed on any other exchange or quoted in any other quotation medium at the present moment.
Aspyra intends to file a notification of removal from listing on the exchange on Form 25 with the Securities and Exchange Commission in early November. The withdrawal of its common stock from listing on the exchange will be effective 10 days after the filing.