Steel Partners Holdings L.P. (SPLP, Financial) has officially announced its decision to voluntarily delist its common and 6% Series A Preferred Units from the New York Stock Exchange (NYSE). The company has also initiated steps to deregister under Section 12(b) of the Securities Exchange Act of 1934.
Once the delisting process is complete, Steel Partners intends to transition its common and Series A Units to be quoted on the OTCQX platform. This strategic move aims to alter the trading venue while maintaining a public market presence for investors. The decision aligns with the company's evaluation of the regulatory and administrative costs associated with maintaining its current NYSE listing.
