DelistingAug 11, 2026, 09:21 AM
NusaTrip to be delisted from Nasdaq; will trade over-the-counter
AI Summary
NusaTrip Incorporated announced it received a Staff Delisting Determination from Nasdaq on August 3, 2026. The delisting is based on Nasdaq's discretionary authority, the company's failure to timely file its Form 10-K for fiscal year 2025 and Form 10-Q for the period ended March 31, 2026, and public interest concerns arising from its parent company Society Pass's Chapter 11 bankruptcy filing. NusaTrip, whose 78% voting securities are controlled by Society Pass, will not appeal the determination and plans to trade over-the-counter.
Key Highlights
- NusaTrip received a Staff Delisting Determination from Nasdaq on August 3, 2026.
- Nasdaq cited discretionary authority under Listing Rule IM-5101-4 for the delisting.
- Delayed filing of Form 10-K for FY2025 and Form 10-Q for Q1 2026 is an independent basis for delisting.
- Parent company Society Pass (SOPA), controlling 78% of NusaTrip's voting power, filed for Chapter 11 bankruptcy on May 14, 2026.
- The SOPA bankruptcy creates public interest concerns, supporting Nasdaq's delisting decision.
- NusaTrip does not intend to appeal the Staff Determination.
- The company will seek to trade its securities over-the-counter.
Price Impact
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