NYSE American to Commence Delisting Proceedings Against Delta Apparel, Inc. (DLA)
July 01 2024 - 4:15PM
Business Wire
NYSE American LLC (“NYSE American” or the “Exchange”) announced
today that the staff of NYSE Regulation has determined to commence
proceedings to delist the common stock of Delta Apparel, Inc. (the
“Company”) — ticker symbol DLA — from NYSE American. Trading in the
Company’s common stock will be suspended immediately.
NYSE Regulation has determined that the Company is no longer
suitable for listing and will commence delisting proceedings
pursuant to Section 1003(c)(iii) of the NYSE American Company Guide
in light of the Form 8-K disclosure on July 1, 2024 that the
Company and its domestic direct and indirect subsidiaries filed on
June 30, 2024 voluntary petitions (the “Chapter 11 Cases”) under
Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware. In reaching
its delisting determination, NYSE Regulation notes the Company’s
disclosure regarding the expectation that holders of shares of the
Company’s common stock will experience a complete or significant
loss on their investment, depending on the outcome of the Chapter
11 Cases.
The Company has a right to a review of NYSE Regulation staff’s
determination to delist the common stock by the Listings
Qualifications Panel of the Committee for Review of the Board of
Directors of the Exchange. The NYSE American will apply to the
Securities and Exchange Commission to delist the Company’s common
stock 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
Relations investor.relations@deltaapparel.com
NYSE Contact: NYSE
Communications PublicRelations-NYSE@ice.com