Interlink Electronics Inc. plans to delist its stock from the Nasdaq and deregister its common stock.
The Westlake Village sensor manufacturer said it has less than 300 stockholders of record and the deregistration will allow it to suspend mandatory public financial filings.
Chief Executive Steven Bronson said the company currently has a strong balance sheet and no debt, so management doesn’t anticipate a need to access the public equity markets.
“To better position Interlink to accelerate long-term profitable growth, we undertook a thorough and thoughtful review of our cost structure, including costs associated with being a Nasdaq listed and (Securities and Exchange Commission) reporting company,” Bronson said in a statement. “The cessation of public reporting also will enable us to better direct our management resources on the commercialization of our products. For these reasons, our board voted unanimously to voluntarily delist from Nasdaq and deregister.”
The company announced its plan after market close. Shares in Intelink (LINK) closed Thursday unchanged at $2.01 on the Nasdaq.