Nasdaq plans to delist Right Start Inc., the educational products retailer, because its assets and value of its public shares do not meet market standards. The firm is appealing the decision and will remain listed pending the appeal, according to Reuters. Right Start is taking several moves to meet minimum listing requirements. For one, it plans to sell $20 million of equity to a private investment
Nasdaq plans to delist Right Start Inc., the educational products retailer, because its assets and value of its public shares do not meet market standards.
The firm is appealing the decision and will remain listed pending the appeal, according to Reuters.
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Right Start is taking several moves to meet minimum listing requirements. For one, it plans to sell $20 million of equity to a private investment group by Sept. 5.
In addition, Right Start will issue 1.1 million shares worth $4.2 million tied to its acquisition of Zany Brainy, a bankrupt retailer.
The firm claims that these transactions will increase stockholder equity by $27 million.
