Semantix Inc (NASDAQ:STIX) shares are trading lower by 39.6% to $0.53 during Friday's session after the company announced it will voluntarily delist from the Nasdaq Global Market.
Semantix says the decision, influenced by various factors including costs and burdens associated with public trading, will take effect around April 15.
Following delisting, trading of Semantix securities will likely occur through private sales or potentially on an over-the-counter market operated by OTC Markets Group Inc., but there's no guarantee of continued trading availability. Semantix also intends to suspend its reporting obligations under SEC regulations.
According to data from Benzinga Pro, STIX has a 52-week high of $4.77 and a 52-week low of $0.45.