Interpreting Form 25 and Next-Day Delisting Dates

Summary

The document asks why a Nasdaq issue may show a suspension or delisting effective date one day after its Form 25 publication, despite a general description stating that delisting takes effect ten days after publication. It presents the question in the context of understanding corporate delisting procedures and provides an example involving AMAG Pharmaceuticals, whose listed effective date is the day after the reported Form 25 date.

The excerpt does not include an answer or explain which rule or event accounts for the apparent difference. Its evidence is a dated entry from Nasdaq’s pending suspension and delisting list, alongside a general description of Form 25 timing. The example concerns a merger or acquisition and has a suspended status, but the document does not establish whether those details explain the timing. It is a useful event-data interpretation question, not guidance on predicting delistings or trading around them; readers would need authoritative rule text and case-specific filings to resolve it.

Key ideas

• The document contrasts a general ten-day Form 25 timing description with a listed next-day effective date.
• It cites a Nasdaq pending suspension and delisting entry for an issuer involved in an acquisition or merger.
• The example reports suspension status, but the excerpt does not explain its relationship to the timing.
• The document raises a regulatory interpretation question without providing a resolution.

Tags

# Why could form 25 (SEC) has effective date on the next day?


# Why could form 25 (SEC) has effective date on the next day?












I try to understand delisting procedure. Companies fill the form 25 (25-NSE) if they want to delist. However the effective date of the delisting is 10 days after the publication of the form. (https://www.investopedia.com/terms/s/sec-form-25.asp)

At the same time NASDAQ publishes list of issues that are pending suspension or delisting (https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx) where there are some tickers that have effective date 1 day after the Form-25 publication.

For example, as of 24 of November 2020 there is following information:

```
Issuer Name.               | Symbol | Reason             | Status    | Effective Date | Form 25 Date

AMAG Pharmaceuticals, Inc. | AMAG   | Acquisition/Merger | Suspended | 11/17/2020     | 11/16/2020
```
```

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