NYSE to Commence Delisting Proceedings Against Big Lots, Inc. (BIG)
September 09 2024 - 4:15PM
Business Wire
The New York Stock Exchange (“NYSE”, the “Exchange”) announced
today that the staff of NYSE Regulation has determined to commence
proceedings to delist the common shares of Big Lots, Inc. (the
“Company”) — ticker symbol BIG — from the NYSE. Trading in the
Company’s common shares will be suspended immediately.
NYSE Regulation reached its decision that the Company is no
longer suitable for listing pursuant to NYSE Listed Company Manual
Section 802.01D after the Company’s September 9, 2024 press release
disclosure that the Company, together with each of its
subsidiaries, initiated voluntary Chapter 11 proceedings in the
U.S. Bankruptcy Court for the District of Delaware. In reaching its
delisting determination, NYSE Regulation notes the uncertainty as
to the ultimate effect of this process on the value of the
Company’s common shares.
The Company has a right to a review of this determination by a
Committee of the Board of Directors of the Exchange. The NYSE will
apply to the Securities and Exchange Commission to delist the
common shares upon completion of all applicable procedures,
including any appeal by the Company of the NYSE Regulation staff’s
decision.
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Company Contact: Investor
Contact: Alvin Concepcion Investor_Relations@biglots.com
614-278-2705
NYSE Contact: NYSE
Communications PublicRelations-NYSE@ice.com