Harte Hanks, Inc. (NYSE:HHS) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 9, 2020, Harte Hanks, Inc. (the “Company or “Harte Hanks”) was notified by the New York Stock Exchange (the “NYSE”) that the NYSE determined to commence proceedings to delist its common stock (the “Common Stock”) from the NYSE as a result of the Company’s failure to comply with the continued listing standard set forth in Section 802.02B of the NYSE Listed Company Manual to maintain either (i) at least $50 million in stockholders’ equity or (ii) at least $50 million in total market capitalization on a 30-trading day average basis. The NYSE will announce a suspension date (the “Suspension Announcement”) at such time as (i) the Company does not request a review of the determination by the Committee of the Board of Directors of the NYSE (the “Committee”), within 10 business days of the notice, (ii) the Company determines that it does not intend to appeal the determination, (iii) the subsequent review of the Committee determines that the Company should be suspended or, (iv) there are other material developments.
While the Company has the ability to appeal the decision by the NYSE, Harte Hanks’ Board of Directors has determined that it is in the best interest of the Company and its shareholders to immediately begin trading on the OTCQX® Best Market (the “OTCQX”). The NYSE has informed the Company that it will apply to the Securities and Exchange Commission (the “SEC”) to delist the Common Stock after the Suspension Announcement.
The Common Stock will begin to immediately trade on the OTCQX, which is operated by OTC Markets Group Inc. The Company will remain subject to the public reporting requirements of the SEC following the transfer to the OTCQX and expects the Common Stock will trade under the symbol “HRTE.”
The Company issued a press release on July 10, 2020, announcing that it received the notice of noncompliance with NYSE’s continued listing standard and that the Common Stock will begin trading on the OTCQX immediately. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
HARTE HANKS INC Exhibit
EX-99.1 2 ex_193708.htm EXHIBIT 99.1 ex_193708.htm HARTE HANKS,…
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About Harte Hanks, Inc. (NYSE:HHS)
Harte Hanks, Inc. (Harte Hanks) is a multi-channel marketing company. The Company’s Customer Interaction business offers a range of marketing services, in media from direct mail to e-mail, including agency and digital services; database marketing solutions and business-to-business lead generation; direct mail, and contact centers. Its agency services are customer engagement agencies specializing in direct and digital communications for both consumer and business-to-business markets. The Company’s digital solutions integrate online services within the marketing mix and include search engine management, display, digital analytics, Website development and design, digital strategy, social media, e-mail, e-commerce and interactive relationship management and a range of other services that support its core businesses.
