DailyPets
  • Home
  • Dogs
  • Cats
  • News
  • Business
  • Finance
  • Sports
  • Tech
  • Travel
  • Investigations
  • Celebrity
  • Fashion
No Result
View All Result
DailyPets
No Result
View All Result
Home Tech

Twitter will be delisted from the New York Stock Exchange on November 8

Daily News by Daily News
November 17, 2022
in Tech
0 0
0
Twitter will be delisted from the New York Stock Exchange on November 8
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Twitter will be delisted from the New York Stock Exchange on November 8. Twitter’s stock will be delisted from the New York Stock Exchange on November 8, according to a new filing with the U.S.

Securities and Exchange Commission. This comes a day after Elon Musk completed the company’s takeover after a lengthy ordeal late Thursday. Incidentally, the delisting is taking place on the same date as the U.S. midterm elections.

“The New York Stock Exchange hereby notifies the SEC of its intention to remove the entire class of the stated securities from listing and registration on the Exchange at the opening of business on November 08, 2022, pursuant to the provisions of Rule 12d2-2 (a),” the filing reads.

It also indicated that the merger between Twitter and Musk’s subsidiary X Holdings II, Inc. was complete. Musk’s X Holdings I, Inc. will now own all the stock of the social network.

“The merger between Twitter, Inc. and X Holdings II, Inc., a wholly owned subsidiary of X Holdings I, Inc., wholly owned by Elon Musk became effective on October 27, 2022.

Each share of Twitter, Inc. Common Stock was exchanged for USD 54.20 in cash, without interest and less any applicable withholding taxes.

The Exchange also notifies the Securities and Exchange Commission that as a result of the above-indicated conditions this security was suspended from trading before market open on October 28, 2022.”

At the time of writing, Twitter’s stock was trading at $53.70 — slightly lower than Musk’s buying price of $54.20. Twitter won’t have to make quarterly disclosures like its monthly active users or its earnings as a private company. But financial institutions that have lent money to Musk will pressure the billionaire to make the company profitable.

The social media company will likely form a new board after the current members will dissolve. Musk will have to also pick a new executive team, as one of his first steps after taking over was to fire CEO Parag Agrawal, CFO Ned Segal, general counsel Sean Edgett and head of legal policy, trust and safety Vijaya Gadde.

Elon Musk is likely to assume the CEO position for the time being, but he might hand it over to someone else in the long run.

A report from Bloomberg noted that Agrawal is set to receive nearly $50 million while Segal and Gadde will get $37 million and $17 million each as part of the severance package.

While the Tesla CEO squashed rumors of him firing 75% of Twitter’s staff, the current set of employees are still preparing for a massive layoff spree.

Related posts:

Your Monthly Horoscope: November 2022
Fundraising beyond the Bay Area, web3 gaming, TDD prep checklist
Catster Photo Contest: Cats of the Week Winners (November 14, 2024)
Touching grass: what it means and how to do it
NFTs and the creator economy are on a collision course
Crypto Mogul Leon Li’s Firm Has $18 Million Stuck On Sam Bankman-Fried’s Bankrupt Exchange
Catster Photo Contest: Cats of the Week Winners (November 28, 2024)
New York girl, 16, almost loses leg when family pitbull turns on her and starts 'ripping her apart'
Catster Photo Contest: Cats of the Week Winners (November 21, 2024)
Tags: delistedExchangeNovemberStockTechCrunchTwitterTwitter stockTwitter will be delistedYork
ShareTweetPin
Previous Post

Fundraising beyond the Bay Area, web3 gaming, TDD prep checklist

Next Post

Lizzo Claps Back At Fan Who Asks What If Someone Wears A “Fat Suit” After She Dresses As Chrisean Rock

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

May You Like It

  • Kitten Found Hiding on Car Tire Truly Thrives When She Meets 3-legged Cat that Needs Her
  • Common Dog Health Problems You Must Prevent Now
  • Woman Went to Shelter to Look at Kittens in Need, But Brought Home Young Cat that Stole the Show
  • Man Went Out to Help a Stray But Ended Up with a Lap Cat Instead, Who Now Truly Lives Up to His Name

Trending Post

Hot News

  • Kitten Found Hiding on Car Tire Truly Thrives When She Meets 3-legged Cat that Needs Her
  • Common Dog Health Problems You Must Prevent Now
  • Woman Went to Shelter to Look at Kittens in Need, But Brought Home Young Cat that Stole the Show

Recent Posts

Kitten Found Hiding on Car Tire Truly Thrives When She Meets 3-legged Cat that Needs Her

Kitten Found Hiding on Car Tire Truly Thrives When She Meets 3-legged Cat that Needs Her

June 24, 2025
Common Dog Health Problems You Must Prevent Now

Common Dog Health Problems You Must Prevent Now

June 23, 2025
Woman Went to Shelter to Look at Kittens in Need, But Brought Home Young Cat that Stole the Show

Woman Went to Shelter to Look at Kittens in Need, But Brought Home Young Cat that Stole the Show

June 23, 2025

Follow Us

Recommended

  • Kitten Found Hiding on Car Tire Truly Thrives When She Meets 3-legged Cat that Needs Her
  • Common Dog Health Problems You Must Prevent Now
  • Woman Went to Shelter to Look at Kittens in Need, But Brought Home Young Cat that Stole the Show
  • Man Went Out to Help a Stray But Ended Up with a Lap Cat Instead, Who Now Truly Lives Up to His Name
  • Cat Left Out on the Streets Found His Way into Shelter, Determined to be Someone’s One and Only
  • Cat Arrives at Doorstep, Starts Delivering Kittens, Minutes After Being Inside, Her True Self Comes to Life

© 2022 DailyPets

No Result
View All Result
  • Home
  • Dogs
  • Cats
  • News
  • Business
  • Finance
  • Sports
  • Tech
  • Travel
  • Investigations
  • Celebrity
  • Fashion

© 2022 DailyPets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy