Glen Burnie Bancorp(US:GLBZ) Benzinga·2025-12-12 12:30Core Viewpoint - Glen Burnie Bancorp has announced the voluntary delisting of its common stock from Nasdaq and the subsequent deregistration with the SEC to terminate its reporting obligations under the Exchange Act [1][2][5]. Delisting and Deregistration Process - Bancorp intends to file a Form 25 with the SEC around December 22, 2025, with the delisting from Nasdaq expected to take effect on January 1, 2026, 10 days after the filing [2]. - Following the delisting, Bancorp plans to file a Form 15 with the SEC on or about January 2, 2026, certifying it has fewer than 1,200 shareholders, which will suspend its filing obligations under the Exchange Act [4]. Rationale for Delisting - The Board believes that the burdens of operating as a registered public company outweigh the benefits, citing factors such as potential non-compliance with Nasdaq's listing requirements, lack of research coverage, and the significant costs associated with being a public company [5]. - The decision aims to redirect financial and management resources to a broader range of business opportunities [5]. Future Trading Plans - Bancorp intends to provide liquidity to its stockholders by facilitating trading on the OTCQX platform, although there is no guarantee that a broker will continue to make a market in its common stock [3][6].