Brentwood, TN-based Diversicare Healthcare Services’ common stock began trading on the OTCQX on Thursday after Nasdaq denied an appeal by the company for the stock to remain listed on that exchange.
Nasdaq decided to delist Diversicare’s common stock because the company’s market value of listed securities was less than the minimum requirement of $35 million, Diversicare said.
The trading symbol remains DVCR.
Diversicare first reported that it might be delisted from the Nasdaq Stock Market in a Dec. 21 filing with the Securities and Exchange Commission.
As of Aug. 28, according to the company, Diversicare had 72 skilled nursing facilities with a combined 8,214 licensed nursing beds. In addition, according to an Aug. 5 SEC filing, the company has 429 licensed assisted and residential living beds.
