Bexil Corporation Announces its Application to Subscribe to the OTC Disclosure & News Service and Intention to Qualify for the OTC Pink Current Information Tier
Rhea-AI Summary
Bexil Corporation (OTC PINK:BXLC) announced its application to subscribe to the OTC Disclosure and News Service. The company aims to qualify its common stock for the OTC Pink Current Information Tier to maintain eligibility for public quotations under Exchange Act Rule 15c2-11. However, there is no guarantee that the application will be accepted or that the company will remain qualified. Bexil focuses on increasing book value per share via its investment management subsidiary, Bexil Advisers LLC, which manages the Dividend and Income Fund (stock symbol: DNIF).
Positive
- Application to subscribe to the OTC Disclosure and News Service to enhance visibility.
- Intent to qualify for the OTC Pink Current Information Tier may attract more investors.
Negative
- No assurance that the application will be accepted or maintained.
- Uncertainty around public quotations eligibility under Exchange Act Rule 15c2-11.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MILLBROOK, NY / ACCESSWIRE / August 20, 2021 / Bexil Corporation (OTC PINK:BXLC) ("Bexil" or the "Company") today announced that pursuant to the direction of its Board of Directors it has submitted an application to subscribe to the OTC Disclosure and News Service and intends to qualify its common stock for the OTC Pink Current Information Tier in connection with, among other things, maintaining eligibility for public quotations in the OTC market pursuant to Exchange Act Rule 15c2-11.
There is no assurance as to when or if the application to the OTC Disclosure and News Service will be accepted, that the Company will be eligible for public quotations pursuant to Rule 15c2-11 or any other applicable regulation, or that, if accepted, the Company will continue to maintain the OTC Disclosure and News Service and/or Pink Current Information Tier.
About Bexil Corporation
The objective of Bexil Corporation, a holding company, is to increase book value per share over time for the benefit of its shareholders. The Company is primarily engaged through a wholly owned subsidiary, Bexil Advisers LLC, in investment management. Bexil Advisers is a registered investment adviser and the investment manager to Dividend and Income Fund, a closed end fund (Stock Symbol: DNIF) (NAV Symbol: XDNIX). To learn more about Bexil, including Rule 15c2-11 information, please visit www.Bexil.com.
Safe Harbor Note
This release may contain certain "forward looking statements" within the meaning of federal securities laws including, but not limited to the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bexil, which may cause the Company's actual results to be materially different from those expressed or implied by such statements. The Company may also make additional forward looking statements from time to time. All such subsequent forward looking statements, whether written or oral, by the Company or on its behalf, are also expressly qualified by these cautionary statements. Investors should carefully consider the risks, uncertainties, and other factors, together with the information included in the Company's Annual Report, at http://www.bexil.com/cautionary-language.html, and similar information. All forward looking statements made herein are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.
CONTACT:
Thomas O'Malley
Chief Financial Officer
1-212-785-0900
tomalley@bexil.com
www.Bexil.com
SOURCE: Bexil Corporation
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https://www.accesswire.com/660729/Bexil-Corporation-Announces-its-Application-to-Subscribe-to-the-OTC-Disclosure-News-Service-and-Intention-to-Qualify-for-the-OTC-Pink-Current-Information-Tier