Healthcare-focused Strawberry Fields REIT in a letter to the SEC said it is withdrawing a planned direct listing of 1.5 million shares on the Nasdaq.
The REIT cited a need to have additional round lot shareholders in order to meet the initial listing requirements for the Nasdaq, as well as the potential impact of prevailing market conditions.
A third-party valuation completed in March had set the price per share at $9.23.
Strawbwrry Fields in July 2019 had also withdrawn a planned listing, SEC records show. The REIT at the tinme said the withdrawal was based on the discovery that its auditor was subject to legal proceedings arising from its audits of entities unrelated to Strawberry Fields. Read more.
