NYSE American to Commence Delisting Proceedings Against Williams Industrial Services Group Inc. (WLMS)
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 Williams Industrial Services Group Inc. (the "Company") ? ticker symbol WLMS ? 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. On July 24, 2023, the Company disclosed that it filed voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware and agreed to sell substantially all of the Company and its subsidiaries assets to EnergySolutions for $60 million. NYSE Regulation noted that the Company is not currently projecting any return for its stockholders.
The Company has a right to a review of staff's determination to delist the Common Stock by a Committee 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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