Sun Country Airlines (NASDAQ: SNCY) withdraws Common Stock from Nasdaq
Rhea-AI Filing Summary
Sun Country Airlines Holdings, Inc. notified the Nasdaq Stock Market LLC of a voluntary withdrawal of its Common Stock from listing, and Nasdaq has caused the class to be struck from listing in accordance with 17 CFR 240.12d2-2. The exchange and the issuer state compliance with the applicable Nasdaq rules governing voluntary withdrawal.
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Key Terms
Form 25, 17 CFR 240.12d2-2, voluntary withdrawal
3 terms
Form 25 regulatory
"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION"
A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.
17 CFR 240.12d2-2 regulatory
"Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules"
A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.
voluntary withdrawal regulatory
"the Issuer has complied with its rules of the Exchange and the requirements governing the voluntary withdrawal"
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FAQ
Why did Sun Country (SNCY) file a Form 25 with Nasdaq?
Because the issuer and Nasdaq each complied with rules to withdraw and strike the Common Stock from listing. The filing states both the Exchange and the Issuer followed 17 CFR 240.12d2-2 procedures for voluntary withdrawal.
What class of securities is affected by this Form 25 for SNCY?
The filing affects the company’s Common Stock. The Form 25 specifically identifies Common Stock as the class being withdrawn and struck from listing on the Nasdaq Stock Market LLC.
Who certified the Exchange's action in the Form 25 for SNCY?
Nasdaq Stock Market LLC certified the action through an authorized officer. The notification includes a Nasdaq signatory (AVP Tara Petta) attesting to compliance with Form 25 requirements.
Which regulation does the Nasdaq cite in striking SNCY's listing?
Nasdaq cites 17 CFR 240.12d2-2 as governing the strike/withdrawal process. The filing references the regulation’s subsections regarding exchange and issuer compliance for voluntary withdrawals.
Does the Form 25 indicate the withdrawal was voluntary for SNCY?
Yes, the filing states the Issuer complied with Nasdaq rules governing the voluntary withdrawal of the class of securities. The language in the notice characterizes the withdrawal as voluntary under the cited rule.