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THQ delisted from NASDAQ Stock Exchange

Matt-liebl-profile

Posted by: Matt Liebl

Following its bankruptcy filing in December, THQ has been delisted from the NASDAQ stock exchange. THQ's stock has fallen to 23 cents per share.

Over the weekend, the THQ stock, now represented by the symbol THQIQ, began being traded OTC (over the counter). As explained by Gamasutra, this means “THQ's stock is not listed on an exchange, and is instead traded over the telephone and electronically, rather than on a physical trading floor.”

Although stock trading for THQ remains for the time being, it's worth mentioning that once the upcoming bankruptcy deal is approved by the courts, the company will become privately owned. From then on, it won't be traded at all.

THQ had previously avoided delisting from NASDAQ by enacting a reverse split of its stock. To stay above the required minimum share price of $1.00 THQ had reduced its total number of common shares, thereby increasing its price per share.

As it stands now, THQ currently has a deal with Clearlake Capital Group to provide the money needed to continue working THQ's products. Following the purchase, Clearlake has plans to invest in the company to finish the games currently in development and beyond. THQ president Jason Rubin referred to the deal as a "new start" for the company.

Tags: THQ

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