Virtus Investment Partners Moves Common Stock Listing to NASDAQ
Ticker: VRTS · Form: 8-K · Filed: Jan 5, 2024 · CIK: 883237
| Field | Detail |
|---|---|
| Company | Virtus Investment Partners, Inc. (VRTS) |
| Form Type | 8-K |
| Filed Date | Jan 5, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: listing-transfer, exchange-change, 8-K
TL;DR
**VRTS stock is moving from NYSE to NASDAQ, but it's a normal exchange transfer, not a delisting issue.**
AI Summary
Virtus Investment Partners, Inc. (VRTS) announced on January 5, 2024, that its common stock, previously listed on the New York Stock Exchange (NYSE), has been transferred to The NASDAQ Stock Market LLC. This change means VRTS shares will now trade under the same 'VRTS' ticker symbol on NASDAQ instead of NYSE. This matters to investors because while the exchange changed, the company's listing status remains strong, indicating no underlying financial issues, but rather a strategic decision for its trading venue.
Why It Matters
This filing indicates a change in where Virtus Investment Partners' stock trades, but not a delisting due to financial distress, which is a positive sign for investors.
Risk Assessment
Risk Level: low — The filing indicates a transfer of listing, not a delisting due to non-compliance, which poses minimal risk to investors.
Analyst Insight
Investors should note the change in listing venue but understand it's a procedural move, not a red flag. Continue to monitor company fundamentals and performance.
Key Players & Entities
- VIRTUS INVESTMENT PARTNERS, INC. (company) — the registrant whose stock is moving exchanges
- VRTS (company) — the trading symbol for Virtus Investment Partners, Inc.
- The NASDAQ Stock Market LLC (company) — the new exchange where VRTS common stock will be listed
- New York Stock Exchange (company) — the previous exchange where VRTS common stock was listed
- January 5, 2024 (date) — the date of the earliest event reported in the filing
- $0.01 (dollar_amount) — the par value of each share of common stock
Forward-Looking Statements
- Trading volume for VRTS may see a temporary fluctuation as investors adjust to the new exchange. (VRTS) — medium confidence, target: Q1 2024
FAQ
What is the primary event reported in this 8-K filing by Virtus Investment Partners, Inc.?
The primary event reported is the transfer of the company's common stock listing from the New York Stock Exchange to The NASDAQ Stock Market LLC, effective January 5, 2024.
Will the trading symbol for Virtus Investment Partners, Inc. change as a result of this listing transfer?
No, the trading symbol for Virtus Investment Partners, Inc. will remain 'VRTS' on The NASDAQ Stock Market LLC, as stated in the filing under 'Title of each class Trading Symbol(s)'.
What is the par value of Virtus Investment Partners, Inc.'s common stock?
The par value of Virtus Investment Partners, Inc.'s common stock is $0.01, as indicated in the filing under 'Common Stock, $0.01 par value'.
What is the state of incorporation for Virtus Investment Partners, Inc.?
Virtus Investment Partners, Inc. is incorporated in Delaware, as specified in the filing under 'State or other jurisdiction of incorporation'.
Does this 8-K filing indicate that Virtus Investment Partners, Inc. is an 'emerging growth company'?
No, the filing includes a checkbox 'Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):' and the box for 'emerging growth company' is not checked, implying it is not an emerging growth company.
Filing Stats: 554 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2024-01-05 09:02:59
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value VRTS The NASDAQ Stock Market
Filing Documents
- vrts-20240105.htm (8-K) — 31KB
- ex991virtustransferslist.htm (EX-99.1) — 5KB
- ex991virtustransferslist001.jpg (GRAPHIC) — 354KB
- 0000883237-24-000003.txt ( ) — 650KB
- vrts-20240105.xsd (EX-101.SCH) — 2KB
- vrts-20240105_lab.xml (EX-101.LAB) — 24KB
- vrts-20240105_pre.xml (EX-101.PRE) — 12KB
- vrts-20240105_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 5, 2024, Virtus Investment Partners, Inc. (the "Company") acting pursuant to authorization from its Board of Directors notified The Nasdaq Stock Market LLC ("Nasdaq") of its intention to voluntarily withdraw the listing of its common stock, par value $0.01 per share (the "Common Stock"), from Nasdaq and transfer the listing to the New York Stock Exchange (the "NYSE"). The Company expects that listing of its Common Stock on Nasdaq will end at market close on January 16, 2024, and that the NYSE listing will occur at market open on January 17, 2024. The Common Stock has been approved for listing on NYSE, where it will continue to trade under its current symbol, "VRTS".
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. A copy of the press release issued by the Company announcing the transfer of the principal listing of the Common Stock to NYSE has been furnished as Exhibit 99.1 to this Current Report on Form 8-K.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit 99.1 Press Release dated January 5, 2024. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VIRTUS INVESTMENT PARTNERS, INC. Dated: January 5, 2024 By: /s/ Andra C. Purkalitis Name: Andra C. Purkalitis Title: Executive Vice President, Chief Legal Officer, General Counsel and Secretary