Economy & Economic Development  July 1, 2019

ARC Group Worldwide delists from Nasdaq amid drop in share price

LONGMONT/FIRESTONE — Arc Group Worldwide Inc. (Nasdaq: ARCW) is removing itself from public markets after failing to keep its stock price at required minimums.

ARC Group Worldwide Inc. owns this building at 7040 Weld County Road 20, along with an adjacent building. Christopher Wood/BizWest

The Deland, Florida-based advanced manufacturing company is voluntarily removing itself from the Nasdaq after its stock price fell below $1 for 30 consecutive days, according to filings with the U.S. Securities and Exchange Commission. ARC said in the filing it had considered reducing the amount of shares it had available to the public, but decided it would rather use the costs associated with move to shore up its existing business.

Arc Group has a plant in Firestone. The company closed a plant in neighboring Longmont in May and slashed 32 percent of its workforce across its Precision Components Group as part of a cost-slashing plan. The company took a $6,181,000 net loss in their previous quarter, according to their most recent earnings filing.

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The delisting will officially register on July 22, but shares in the company will continue to be traded on the OTC Market index.

ARC Group’s stock price fell 16.67 percent on the news to close 38 cents per share. The company did not immediately respond to a request for comment Monday afternoon.

LONGMONT/FIRESTONE — Arc Group Worldwide Inc. (Nasdaq: ARCW) is removing itself from public markets after failing to keep its stock price at required minimums.

ARC Group Worldwide Inc. owns this building at 7040 Weld County Road 20, along with an adjacent building. Christopher Wood/BizWest

The Deland, Florida-based advanced manufacturing company is voluntarily removing itself from the Nasdaq after its stock price fell below $1 for 30 consecutive days, according to filings with the U.S. Securities and Exchange Commission. ARC said in the filing it had considered reducing the amount of shares…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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