F45 Training Holdings Inc (NASDAQ:FXLV) shares are trading lower by 6.5% to $0.16 Wednesday morning. The stock is trading lower on downward momentum after the company announced it intends to voluntarily delist and deregister its securities.
As previously disclosed, F45 received a NYSE non-compliance notice due to delayed filings and a sub-$1.00 average stock price over 30 days.
Opting for cost-efficiency and acknowledging limited benefits of public status, the company chose to go private. Per F45, this move eliminates expenses, allows focus on core operations and growth and removes short-term market distractions.
According to data from Benzinga Pro, FXLV has a 52-week high of $3.73 and a 52-week low of $0.16.