The New York Stock Exchange on Tuesday halted trading of common stock of Oklahoma City-based LSB Industries, Inc.
The Exchange explained the step was taken in order to address the stock price adjustment applied to LSB’s common stock as a result of the fact that the 49,066,005 shares of common stock issued to LSB Funding LLC, an affiliate of Eldridge, in the exchange transaction that closed on September 27, 2021 did not receive the dividend because such shares were not outstanding on the dividend record date of September 24, 2021.
In a statement, LSB Said it was working with the NYSE to address the stock price adjustment in order to enable the Company’s common stock to commence trading.
