Industrial Services of America, Inc. (NASDAQ:IDSA) (the "Company" or "ISA"), today announced that it notified The Nasdaq Stock Market, Inc. ("Nasdaq") of its intent to delist its common stock, par value $0.0033 per share (the "Common Stock"), from the Nasdaq Global Select Market. ISA expects to file a Form 25 (Notification of Removal from Listing) with the Securities and Exchange Commission (the "SEC") and Nasdaq relating to the delisting of the Common Stock on or about December 30, 2019 and to suspend trading of its Common Stock on the Nasdaq Global Select Market prior to the opening of trading on January 2, 2020. ISA does not expect that a trading market will develop for its Common Stock following suspension of trading on Nasdaq. ISA expects that the official delisting of its Common Stock will be effective January 9, 2020.
As previously disclosed, ISA's shareholders approved a plan to dissolve ISA following the completion of the sale of substantially all of its assets pursuant the previously announced definitive asset purchase agreement (the "Purchase Agreement") with River Metals Recycling LLC ("River Metals"), a subsidiary of The David J. Joseph Company. ISA has previously announced that this sale was completed on December 16, 2019. As a result, in addition to delisting its Common Stock, ISA intends to file articles of dissolution with the Florida Secretary of State within the next 30 days.
Forward-Looking Statements
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