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THQ avoids stock exchange delisting

At the beginning of this year, publisher THQ began falling apart at the seams. Shortly after the start of the company’s financial woes, it was issued an ultimatum to increase its share price value or it would be delisted from the stock exchange. At that time, the THQ share price was valued at $0.70 having fallen from a high of $30 per share. In order for a company to remain listed on the stock exchange, it has to maintain a minimum share value of $1 per share for ten consecutive business days.

Luckily the THQ of back then is not the same THQ we know now. Sure, the publisher still has some serious recovering to do, but at least they’ve made the delisting deadline of 23 July. Thanks to the incredibly fancy sounding business manoeuvre known as a “1 for 10 reverse stock split” (seriously, it sounds like a skateboarding move or something) THQ managed to adhere to the NASDAQ requirements for minimum share pricing, and has thereby secured its continued listing on the stock exchange.

It’s great to see the publisher making a steady return. With titles like Darksiders II and Company of Heroes 2 in the works, it’s hoped that THQ will continue to revive itself.

Source: Gamesindustry International

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