Chromcraft Revington stock shifts to pink sheets
Powell Slaughter -- Furniture Today, April 30, 2013
WEST LAFAYETTE, Ind. — Furniture manufacturer and importer Chromcraft Revington said its stock began trading today on the OTC Pink Marketplace under the ticker symbol CRCV.
The company said it voluntarily withdrew its New York Stock Exchange listing after the close of trading on Monday.
Also on Monday, the company filed paperwork with the Securities and Exchange Commission to terminate the registration of its common stock. That move will eliminate the financial reports required by the SEC, but the company said it will continue to publish quarterly and annual financial reports on its website, www.chromcraft-revington.com, and the OTC Markets website, www.otcmarkets.com.
The company said it plans to file its last financial report with the SEC - the annual report for the 2012 calendar year - no later than May 31.
A group of senior managers headed by Chairman and CEO Ronald Butler has signed a nonbinding letter of intent and term sheet to buy the company, but the group and the company have yet to reach a definitive agreement.
The proposed deal would value the company at $5 million.
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