[25-NSE] STRYVE FOODS INC A SEC Filing
Nasdaq Stock Market LLC has filed Form 25 to remove Stryve Foods, Inc. (SNAX) Class A common stock and related warrants from listing and registration under Section 12(b) of the Securities Exchange Act of 1934. The notice, identified under Commission File No. 001-38785, states that the exchange "has complied with its rules" to strike the securities and is acting pursuant to Rule 12d2-2(b).
The filing covers the following security classes: Class A Common Stock and Warrants. It is signed on behalf of Nasdaq by Aravind Menon, Hearings Advisor, dated 10 July 2025. No financial figures, earnings data, or explanatory rationale are provided in the document.
Once the Form 25 becomes effective (generally ten days after filing), the securities will cease to be listed on Nasdaq and registration under Section 12(b) will be withdrawn, potentially impacting trading liquidity and regulatory reporting obligations. The filing does not indicate any concurrent registration under Section 12(g) or alternative trading venue arrangements.
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Insights
TL;DR: Nasdaq is delisting SNAX shares and warrants; loss of major exchange listing is typically negative for liquidity and investor perception.
The Form 25 signals that Stryve Foods’ equity and warrants will no longer trade on Nasdaq once the ten-day period lapses. A national exchange delisting usually reduces share liquidity, narrows the investor base, and can raise financing costs. Because the filing cites Rule 12d2-2(b), this appears to be an exchange-initiated action rather than an issuer-voluntary withdrawal, although the specific cause (e.g., compliance failures, market-value tests) is not disclosed here. From an investment standpoint, the loss of Nasdaq status is materially adverse and could drive price volatility as shares migrate to OTC venues.
TL;DR: Form 25 removes SNAX from Section 12(b) registration, heightening governance and reporting risk.
Once effective, Stryve Foods will no longer be bound by certain Nasdaq governance requirements, although SEC periodic reporting under Section 13(a) may continue unless separately terminated. Investors should note the absence of explanatory details—no mention of hearings outcomes or cure plans—suggesting that any appeal window has likely closed. Delisting often precedes tighter capital access and potential shareholder dilution if the company seeks alternative funding.