Embattled publisher THQ was delisted from the NASDAQ stock exchange over the holiday break, shortly after filing for Chapter 11 bankruptcy, reports Gamasutra.
THQ stock is now trading on OTC (over-the-counter) markets, meaning that transactions involving it will take place directly between parties electronically or over the phone instead of on an exchange. The company's new ticker symbol is THQIQ, rather than THQI.
The company had faced delisting for much of 2012, and enacted a 1-for-10 reverse stock split in July — converting every 10 shares of stock to one — to successfully stay on the NASDAQ, where the minimum price is $1 per share. But the stock fell below $1 to $0.36 Dec. 19, the day THQ announced its bankruptcy filing and a pending acquisition by an affiliate of Clearlake Capital Group. The share price has not risen above $0.40 since, and currently sits at $0.24.
If the deal with Clearlake is completed, THQ will once again become a privately owned company, with no publicly traded stock.
We've reached out to THQ for comment and will update this article with any information we receive.