secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2023-12-29T23:59:59+00:00
Accession:  0001193125-23-305906
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Salem Media Group voluntarily delists from Nasdaq, plans OTCQX listing by Jan 19
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- Salem Media notified Nasdaq of voluntary delisting, effective ~Jan 18, 2024.
- Company failed to regain compliance with Nasdaq minimum bid price rule.
- Board accepted Special Committee recommendation for delisting, citing significant annual cost savings.
- Common stock expected to be quoted on OTCQX starting Jan 19, 2024, pending OTC approval.
- Company intends to file Form 15 by March 29, 2024 to deregister and suspend SEC reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523305906/0001193125-23-305906-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523305906/d792719d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-305906

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