and intends to receive approval in the first quarter of 2023. The Company intends to file an application for its common stock to be quoted on the OTCQX platform, operated by OTC Markets Group Inc.
Despite the lack of these benefits, we incur all of the significant annual expenses and indirect costs associated with being a public company. The low trading value, and the resulting low trading volume, limits our securities’ liquidity and affects our ability to raise capital from the public markets, effectively use our securities as transaction consideration, attract interest from institutional investors or market analysts or otherwise realize the traditional benefits of being a publicly traded company. The Company received a notice that its securities are not in compliance with the continued listing standards of the NYSE, and in response has evaluated its options to remain listed or to go dark and has determined that going dark is the best path for the Company due to expected cost savings and the Company’s current inability to realize the traditional benefits of public company status. (together with its subsidiaries, "Drive Shack", "we", "us" or the "Company") (NYSE: DS), a leading owner and operator of golf-related leisure and entertainment businesses, announced today its intention to voluntarily delist from the New York Stock Exchange ("NYSE") and to deregister its common stock under Section 12(b) and Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and suspend its reporting obligations under Section 15(d) of the Exchange Act. DALLAS, December 13, 2022-( BUSINESS WIRE)-Drive Shack Inc.
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