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Spanish Broadcasting stock starts trading on OTCQX

As expected, Spanish Broadcasting System Inc.'s common stock started trading on OTCQX Best Market, effective Jan. 19, under the ticker SBSAA.

The company on Jan. 17 received a notice from the Nasdaq Stock Market LLC that the company's securities would be suspended from Nasdaq, effective the open of business on Jan. 19, pending delisting. The notice was based on Spanish Broadcasting's continued noncompliance with a Nasdaq listing rule that required the minimum market value of the company's common stock to exceed $15 million.

Spanish Broadcasting said it will continue to file periodic and other required reports with the SEC under applicable federal securities laws.