- Peak Fintech Group (PKK) has voluntarily withdrawn its registration statement filed with the U.S. SEC
- Without an effective registration form to register the company’s shares, the shares will no longer be listed on the NASDAQ
- Peak will keep the NASQD informed of its progress with the amended form.
- Peak Fintech Group is the parent company of a group of financial technology subsidiaries operating in the commercial lending industries
- Peak Fintech is down 8.94 per cent, trading at C$9.88 per share at 1:04 p.m. ET
Peak Fintech Group Inc. announced it has voluntarily withdrawn its registration statement filed with the U.S. SEC.
In the meantime, they will work to comply with recent disclosure guidance for companies either based in, or with major operations in China.
Peak Fintech Group shares will no longer be listed on the NASDAQ effective market open on Sept. 30th, 2021.
Peak’s application to list on the NASDAQ was made under the Multijurisdictional Disclosure System (MJDS). The MJDS is intended to make it easier for companies on both sides of the Canadian/U.S. border to list their respective securities on exchanges in both countries.
The SEC notes that the MJDS allows eligible Canadian companies to register their securities and complete their reporting requirements by preparing documents in compliance with requirements reviewed by the Canadian Securities Administrators.
Peak has been cooperating with the SEC and plans to submit an amended form that highlights the concerns referenced in the guidance disclosure.
Peak will keep the NASQD informed of its progress with the amended form. They hope to have the form expedited by the SEC so that they can list shares on NASDAQ as soon as possible.
Peak Fintech is down 8.94% today and is at C$9.88 shares per stock at 1:04 p.m. ET.