NYSE American to Commence Delisting Proceedings Against Unique Fabricating, Inc. (UFAB)
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 Unique Fabricating, Inc. (the "Company") ? ticker symbol UFAB ? 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 disclosure on November 8, 2023 that the Company filed a voluntary petition for relief under chapter 7 ("Chapter 7") of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware thereby commencing a Chapter 7 case for the Company. NYSE Regulation noted that the Company disclosed it is unlikely that holders of the Company's common stock will receive any payment or other distribution on account of those shares following the bankruptcy proceedings.
The Company has a right to a review of 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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