NYSE American to Commence Delisting Proceedings Against Delta Apparel, Inc. (DLA)

NEW YORK--(BUSINESS WIRE)--NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Delta Apparel, Inc. (the “Company”) — ticker symbol DLA — from NYSE American. Trading in the Company’s common stock will be suspended immediately.

NYSE Regulation has determined that the Company is no longer suitable for listing and will commence delisting proceedings pursuant to Section 1003(c)(iii) of the NYSE American Company Guide in light of the Form 8-K disclosure on July 1, 2024 that the Company and its domestic direct and indirect subsidiaries filed on June 30, 2024 voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In reaching its delisting determination, NYSE Regulation notes the Company’s disclosure regarding the expectation that holders of shares of the Company’s common stock will experience a complete or significant loss on their investment, depending on the outcome of the Chapter 11 Cases.

The Company has a right to a review of NYSE Regulation staff’s determination to delist the common stock by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. The NYSE American will apply to the Securities and Exchange Commission to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.