UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
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Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b‑2 of the Securities Exchange Act of 1934 (§240.12b‑2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
Notice of Hearings Panel Delisting Decision
On November 3, 2020, Apex Global Brands Inc. (the “Company”) received a notice from the Nasdaq Hearings Panel (the “Panel”) that it has determined to delist the Company’s common stock from The Nasdaq Stock Market (“Nasdaq”) due to the Company’s compliance history and its delays in meeting previous compliance deadlines imposed by the Panel. As a result of the Panel’s decision, Nasdaq will suspend trading of the Company’s common stock effective at the open of business on November 5, 2020. Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the Securities Exchange Commission after applicable appeal periods have lapsed.
The Company does not plan to appeal the Panel’s determination to delist the Company’s common stock. After the Company’s common stock is delisted from Nasdaq, the Company anticipates that its common stock will be quoted on the Pink Open Market of the OTC Markets Group. Although the Company will seek to establish relationships with market makers to provide additional trading opportunities in the Company’s common stock, there can be no assurance that a market for the Company’s shares will develop.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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APEX GLOBAL BRANDS INC. |
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November 5, 2020 |
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/s/ Steven L. Brink |
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Steven L. Brink |
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Chief Financial Officer |
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Document and Entity Information |
Nov. 03, 2020 |
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| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Nov. 03, 2020 |
| Entity Registrant Name | APEX GLOBAL BRANDS INC. |
| Entity Central Index Key | 0000844161 |
| Entity Emerging Growth Company | false |
| Entity File Number | 0-18640 |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 95-4182437 |
| Entity Address, Address Line One | 5990 Sepulveda Boulevard |
| Entity Address, City or Town | Sherman Oaks |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 91411 |
| City Area Code | 818 |
| Local Phone Number | 908‑9868 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common stock, par value $0.02 per share |
| Trading Symbol | APEX |
| Security Exchange Name | NASDAQ |