Home / Knowledge / News / Apparel/Garments / Body Central's common stock to move to OTC market
Body Central's common stock to move to OTC market
09
Jul '14
Body Central Corp. announced that trading of the Company's common stock on the NASDAQ Stock Market will be suspended prior to the opening of trading today. The Company anticipates that its common stock will be immediately eligible for quotation on the OTC Pink Marketplace at the opening of trading today under the same symbol ("BODY"). The OTC Pink Marketplace is a market tier operated by OTC Markets Group Inc. for over-the-counter traded companies.
 
As previously disclosed, under the NASDAQ Marketplace Rules, the Company was required to obtain stockholder approval, prior to closing, for the issuance of $18 million private placement of subordinated secured convertible notes (the "Notes), which was consummated on June 27, 2014. 
 
However, in order to preserve the financial viability of the Company, it was necessary to consummate the Notes transaction before stockholder approval could be obtained. As a result, the Company determined to voluntarily delist from the NASDAQ Stock Market.
 
The transition to the OTC Pink Marketplace will not change the Company's obligation to file periodic and other reports with the SEC under applicable federal securities laws, and Body Central's shareholders remain owners of the common stock.
 
About Body Central 
Founded in 1972, Body Central Corp. is a multi-channel, specialty retailer offering on trend, quality apparel and accessories at value prices. As of June 27, 2014, the Company operated 275 specialty apparel stores in 28 states under the Body Central and Body Shop banners, as well as a direct business comprised of a Body Central catalog and an e-commerce website.
 

Body Central Corp


Must ReadView All

Textiles | On 31st May 2016

US textile & apparel imports dip 2.55% in Jan-March

The import of textiles and apparel by United States dropped 2.55 per...

Deepak Chiripal, CEO, Nandan Denim

Textiles | On 31st May 2016

PAT jumps 23% in FY 2015-16 at Nandan Denim

Leading denim manufacturer Nandan Denim posted a rise of 23 per cent...

Apparel/Garments | On 31st May 2016

Productivity falling in Cambodian garment sector: GMAC

Productivity in the apparel and footwear sector in Cambodia decreased ...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

What are the latest technological innovations in the spinning industry?...

Nuno Venda
ROQ

What are the key trends and innovations in textile printing? From which...

Shawn Honeycutt
Bolger & O'Hearn

Which chemicals are likely to dominate the sustainable textiles industry?...

Mohammad Hassan
Biax Fiberfilm

<b><i>About one in every 20 patients picks up an infection while...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

<b><i>Kerem Durdag, CEO, Biovation II LLC, provides an insight into future ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search