Twitter will cease to be a public company, dissolve its board of directors and delist its shares from the New York Stock Exchange. Twitter shares will be delisted from public trading on November 8.
Twitter will delist its shares from Nasdaq, according to a company filing with the U.S. Securities and Exchange Commission. This means that Twitter will no longer be a public company, as it has been since 2013. microblogging platform will no longer be traded on the stock from November 8.
Twitter’s board of directors will be dissolved. The new board will be represented by Elon Musk, his colleagues and the company’s investors.
Experts interviewed by The New York Times believe that after Twitter’s transition to the status of a private company, it will receive advantages: it will not have to inform shareholders, the attention of state and regulatory authorities will be minimal.
Elon Musk became head of Twitter on October 28 after buying the company for $44 billion. Previous CEO Parag Agrawal and CFO Ned Segal have left Twitter headquarters.
Author:
Kirill Bilyk
Source: RB
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