Medicinal cannabis company to terminate reporting obligations

  • Clever Leaves Holdings plans to voluntarily delist its shares from the Nasdaq
  • The company will also deregister its securities to terminate and suspend reporting obligations
  • Last day of trading for its shares on the Nasdaq will be on or about May 16
  • Board’s decision comes as part of an evaluation of internal and external options
  • Considered factors include non-compliance with Nasdaq listing requirements and cost of reporting

Medicinal cannabis company Clever Leaves Holdings has announced its plans to voluntarily delist its shares from the Nasdaq and deregister its securities. The company’s board made this decision as part of an evaluation of internal and external options. Factors considered include the company’s previous and likely future non-compliance with Nasdaq listing requirements and the personnel resources and cost needed to carry out reporting obligations. Clever Leaves Holdings will file the necessary forms with the U.S. Securities and Exchange Commission on or about May 6, with the last day of trading for its shares on the Nasdaq expected to be on or about May 16. The stock finished the day’s regular session with a 6% gain, closing at $4.11, but shares have fallen 54% over the last 12 months.

Factuality Level: 9
Factuality Justification: The article provides factual information about Clever Leaves Holdings’ decision to voluntarily delist its shares from the Nasdaq and deregister its securities. It includes details about the company’s plans, the reasons behind the decision, and the timeline for the delisting process. There are no apparent digressions, misleading information, sensationalism, redundancy, or bias in the article. The reporting appears to be objective and based on the information provided by the company.
Noise Level: 3
Noise Justification: The article provides clear and relevant information about Clever Leaves Holdings’ decision to delist its shares from the Nasdaq and deregister its securities. It includes details about the company’s reasons for the decision, such as non-compliance with listing requirements and cost considerations. The article stays on topic and does not contain irrelevant information. However, it lacks in-depth analysis or exploration of broader implications.
Financial Relevance: Yes
Financial Markets Impacted: Nasdaq
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to a financial company, Clever Leaves Holdings, and its decision to voluntarily delist its shares from the Nasdaq and deregister its securities. This decision may impact the financial markets, specifically the Nasdaq, and the company itself. However, there is no mention of an extreme event or any impact rating associated with it.
Public Companies: Clever Leaves Holdings (N/A)
Key People:

Reported publicly: www.marketwatch.com