Fitchburg’s Micron Solutions to delist from NYSE
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Unemployment in the Framingham area was 2.8% in August.
Fitchburg contract manufacturer Micron Solutions on Monday announced it will delist from trading on the New York Stock Exchange.
The company announced it would delist from the stock exchange where it is traded under the symbol MICR and currently trades for $2.20 per share with under 300 stock holders. The company would then seek to be traded on the OTCQB Venture Market on the OTC Markets, although there is no guarantee it will be able to be traded on that exchange.
“We believe that the alternative of listing on the OTCQB would allow us to continue to maintain a trading platform for our shareholders along with the ability to provide quarterly and annual financial reporting, at a reduced cost more appropriate for a company our size. This change will also allow us to better focus our efforts on improving operational performance,” said CEO Bill Laursen in a release.
After leaving the NYSE, the company will no longer have to meet reporting obligations from the U.S. Securities & Exchange Commission, although the company would provide financial and other business information under the OTC Market’s alternative reporting standards.
The announcement comes after a string of leadership changes beginning last fall, including Laursen, CFO Wayne Coll and a reshuffling of Micron's board of directors.
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