Liberty TripAdvisor Holdings, Inc. Provides Update Regarding Nasdaq Delisting
October 19 2023 - 4:15PM
Business Wire
As previously disclosed, Liberty TripAdvisor Holdings, Inc.
(“Liberty TripAdvisor”) (Nasdaq: LTRPA, LTRPB) received written
notice from The Nasdaq Stock Market (“Nasdaq”) that if Liberty
TripAdvisor’s Series A common stock (“LTRPA”) did not regain
compliance with Nasdaq’s minimum bid price requirement for
continued listing by October 18, 2023, trading of LTRPA would be
suspended.
On October 19, 2023, Liberty TripAdvisor received written notice
from Nasdaq notifying Liberty TripAdvisor that trading of LTRPA and
Liberty TripAdvisor’s Series B common stock (“LTRPB”) will be
suspended at the open of business on October 30, 2023 due to
LTRPA’s failure to regain compliance with the minimum bid price
requirement by October 18, 2023 and LTRPB’s failure to satisfy the
continued listing requirements under Nasdaq Listing Rule 5460(b)
necessary to maintain a separate “primary equity security” listing
independent of LTRPA, specifically the requirements set forth under
Nasdaq Listing Rule 5450(b). Following such suspension, Nasdaq is
expected to file a Form 25 Notification of Delisting with the
Securities Exchange Commission with respect to LTRPA and LTRPB when
all internal procedural periods have run.
Liberty TripAdvisor considered alternatives and believes that
transitioning to The OTC Markets Group, Inc. (“OTC”) is the best
course of action given recurring instances of noncompliance with
Nasdaq listing requirements. OTC has approved the quotation of
LTRPA and LTRPB on the OTCQB Venture Market (“OTCQB”) and LTRPA and
LTRPB are expected to be quoted on OTCQB immediately following
their suspension of trading on Nasdaq on October 30, 2023. The
ticker symbols and CUSIPs for LTRPA and LTRPB are not expected to
change in connection with their suspension and delisting from
Nasdaq and commencement of quotation on the OTCQB. Shareholders of
LTRPA and LTRPB are not required to take any action.
Liberty TripAdvisor will continue to remain a reporting company
under the Securities Exchange Act of 1934, as amended, and the
transition to OTCQB is not expected to affect Liberty TripAdvisor’s
business operations.
Forward-Looking Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements relating to the suspension of trading
of LTRPA and LTRPB on Nasdaq and the future trading of LTRPA and
LTRPB on OTCQB. These forward-looking statements involve many risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements,
including, without limitation, general market conditions. These
forward-looking statements speak only as of the date of this press
release, and Liberty TripAdvisor expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
Liberty TripAdvisor’s expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statement is based. Please refer to the publicly filed documents of
Liberty TripAdvisor and Tripadvisor, Inc., including Liberty
TripAdvisor’s most recent Annual Report on Form 10-K for the year
ended December 31, 2022, as filed on February 17, 2023, and
Tripadvisor, Inc.’s most recent Annual Report on Form 10-K for the
year ended December 31, 2022, as filed on February 17, 2023, for
risks and uncertainties related to Liberty TripAdvisor which may
affect the statements made in this press release.
About Liberty TripAdvisor Holdings,
Inc.
Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA, LTRPB)
consists of its subsidiary Tripadvisor. Tripadvisor is the world’s
largest online travel community, aggregating reviews and opinions
from its community of travelers about destinations, accommodations,
restaurants and activities throughout the world.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019605670/en/
Shane Kleinstein, 720-875-5432
Liberty TripAdvisor (NASDAQ:LTRPA)
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