0001564590-17-006223.txt : 20170407 0001564590-17-006223.hdr.sgml : 20170407 20170407165830 ACCESSION NUMBER: 0001564590-17-006223 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170403 ITEM INFORMATION: Other Events FILED AS OF DATE: 20170407 DATE AS OF CHANGE: 20170407 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPANISH BROADCASTING SYSTEM INC CENTRAL INDEX KEY: 0000927720 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] IRS NUMBER: 133827791 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27823 FILM NUMBER: 17750486 BUSINESS ADDRESS: STREET 1: PABLO RAUL ALARCON MEDIA CENTER STREET 2: 7007 NW 77TH AVENUE CITY: MIAMI STATE: FL ZIP: 33166 BUSINESS PHONE: 3054416901 MAIL ADDRESS: STREET 1: PABLO RAUL ALARCON MEDIA CENTER STREET 2: 7007 NW 77TH AVENUE CITY: MIAMI STATE: FL ZIP: 33166 8-K 1 sbsaa-8k_20170403.htm 8-K sbsaa-8k_20170403.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 3, 2017

 

SPANISH BROADCASTING SYSTEM, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

000-27823

 

13-3827791

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

7007 N.W. 77th Avenue, Miami, Florida

 

33166

(Address of principal executive offices)

 

(Zip Code)

(305) 441-6901

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

 

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):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d‑2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e‑4(c))

 

 

 

 

 

 

 

Item 8.01.  Other Events.

On April 3, 2017, Spanish Broadcasting System, Inc. (the "Company"), received a written notice from OTC Markets ("OTC"), advising us that our market capitalization had stayed below $5 million for more than 30 consecutive calendar days and that it no longer met the Standards for Continued Qualification for the OTCQX® Best Market (U.S. Tier) (“OTCQX U.S.”) as per the OTCQX Rules for U.S. Companies. OTC further notified us that a cure period of 180 calendar days to regain compliance had begun, during which the minimum criteria must be met for 10 consecutive trading days.

The 180-calendar day grace period expires September 30, 2017. If the Company's market capitalization has not been at or above $5 million for 10 consecutive trading days by that time, then its Class A common stock will be moved from OTCQX U.S. to OTC Pink.

 

 

 

 

 

SIGNATURES

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.

 

 

SPANISH BROADCASTING SYSTEM, INC.
(Registrant)

 

 

 

April 7, 2017

By:

 

/s/ Joseph A. García

 

 

 

Joseph A. García

 

 

 

Chief Financial Officer

 

 

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