Spansion officially delisted as of Thursday

spansion-logoStarting tomorrow, Spansion’s shares will no longer trade on the Nasdaq exchange, according to a filing the flash memory maker made Wednesday.

In its statement filed with the SEC, Spansion said it “does not expect the delisting to have any significant impact to its business.”

Spansion shares, which closed Tuesday at 17 cents each, lost 7 cents, or 41 percent, with nearly 45 million shares trading hands, nearly ten times its average volume over the last six months.

The company said it believes it is “making progress on its restructuring plans.” The company hopes to win approval of its reorganization by the end of the year, at which time it will “seek a re-listing on one of the major stock exchanges at the appropriate time after the completion of its restructuring process.”

 

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