Dixie Group Inc. Faces Delisting Notice
Ticker: DXYN · Form: 8-K · Filed: Oct 2, 2024 · CIK: 29332
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: DXNN
TL;DR
Dixie Group (DXNN) got a delisting notice, might get kicked off the exchange.
AI Summary
The Dixie Group, Inc. filed an 8-K on October 2, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, previously known as Dixie Yarns Inc., is based in Dalton, Georgia, and operates in the carpets and rugs industry.
Why It Matters
This filing indicates potential financial distress or non-compliance with stock exchange rules, which could lead to the company's shares being removed from trading.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the liquidity and trading viability of the company's stock.
Key Numbers
- 0-2585 — Commission File Number (Identifies the company's SEC filings)
- 62-0183370 — I.R.S. Employer Identification No. (Company's tax identification number)
Key Players & Entities
- DIXIE GROUP INC (company) — Registrant
- DIXIE YARNS INC (company) — Former name
- DIXIE MERCERIZING CO (company) — Former name
- Dalton, Georgia (location) — Principal executive offices
- October 2, 2024 (date) — Date of earliest event reported
FAQ
What specific listing rule did The Dixie Group, Inc. fail to satisfy?
The filing does not specify the exact listing rule that was not satisfied, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the immediate consequence of this notice for The Dixie Group, Inc.?
The immediate consequence is that the company has received a formal notification regarding its potential delisting from the stock exchange.
When was this 8-K form filed?
This 8-K form was filed on October 2, 2024.
What industry does The Dixie Group, Inc. operate in?
The Dixie Group, Inc. operates in the carpets and rugs industry, as indicated by its Standard Industrial Classification code [2273].
Has The Dixie Group, Inc. undergone name changes in the past?
Yes, the company was formerly known as Dixie Yarns Inc. (name change effective July 3, 1992) and prior to that, Dixie Mercerizing Co. (name change effective May 24, 1967).
Filing Stats: 534 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-10-02 15:22:54
Key Financial Figures
- $3 — ange on which registered Common Stock, $3 Par Value DXYN NASDAQ Stock Market, LLC
Filing Documents
- dxyn-20241002.htm (8-K) — 24KB
- dxyn-20241002_g1.jpg (GRAPHIC) — 14KB
- 0000029332-24-000056.txt ( ) — 209KB
- dxyn-20241002.xsd (EX-101.SCH) — 2KB
- dxyn-20241002_def.xml (EX-101.DEF) — 14KB
- dxyn-20241002_lab.xml (EX-101.LAB) — 25KB
- dxyn-20241002_pre.xml (EX-101.PRE) — 15KB
- dxyn-20241002_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. As previously disclosed, on September 24, 2024, the Company received a letter from the Listing Qualification Staff of the Nasdaq Stock Market, LLC ("Nasdaq") notifying the Company that the Company had not regained compliance with the bid price requirement by the required compliance date and, as a result, the Company's common stock is subject to delisting. The Company has elected not to appeal the Listing Staff's determination. Nasdaq has advised they will suspend trading of the Company's stock at the opening of business on October 3, 2024. Nasdaq has also advised they will promptly file Form 25-NSE with the Securities and Exchange Commission which will remove the Company's securities from listing and registration on The Nasdaq Stock Market. The Company has filed to be quoted on the OTCQB market operated by OTC Markets Group Inc. The Company anticipates its stock will begin trading on the OTCQB market under the stock symbol DXYN promptly following the suspension of trading on NASDAQ. 2
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. Date: October 2, 2024 THE DIXIE GROUP, INC. By: /s/ Allen L. Danzey Allen L. Danzey Chief Financial Officer