Pyxus International (OTC: PYXSQ) has seen its shares suspended from trading and delisted from the New York Stock Exchange as of today as a result of the company seeking Chapter 11 bankruptcy protection. The notification of the delisting was received by the company earlier today.
Pyxus has indicated that it doesn’t intend to appeal the decision made by the New York Stock Exchange. As a result, the equity will be moved to the OTC Pink marketplace. The news release filed today, on June 19, indicated that the equity would begin trading under the symbol “PYXSQ” as of “June 17, 2020.”
The delisting follows the announcement that the company and certain of its US based subsidiaries had filed for Chapter 11 bankruptcy protection on June 15. It’s international operations, including its Canadian-based cannabis subsidiary FIGR Brands, are not to be affected by the filing.
Pyxus International last traded at $0.25 on the OTC Markets.
Information for this briefing was found via Pyxus International. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.