Essex Rental to delist, deregister stock from Nasdaq

BUFFALO GROVE - Crane and hoist rental company Essex Rental Corp. plans to voluntarily withdraw its common stock from Nasdaq stock exchange.

The company said it intends to file a Notification of Removal from Listing and/or Registration on Form 25 with the Securities Exchange Commission on or after Dec. 18, as a result of which the company expects the common stock will cease to be listed on Nasdaq on or about Dec. 28.

The company anticipates that the common stock will be quoted on the OTC Pink Sheets following delisting, but there is no assurance that the common stock will be quoted on any over-the-counter market.

Essex will also file a Form 15 with the SEC to terminate the registration of its common stock under the Exchange Act.

The company received a letter from Nasdaq last August saying it failed to meet the minimum $1 per share bid price requirement for continued listing on Nasdaq, and it had until Feb. 1, 2016, to regain compliance. The board of directors unanimously determined to voluntarily delist from Nasdaq and deregister the common stock.