Brinks Home Security Announces Intent to Deregister Common Stock
Monitronics says it is deregistering because it believes public company reporting requirements have no discernable benefit to the company.
Following the delisting, the company anticipates that its common stock will be quoted on the OTC Pink Open Market (the Pink Sheets).
DALLAS — Monitronics Int’l (OTC: SCTY), dba Brinks Home Security, announced on Tuesday that it intends to voluntarily deregister its common stock under the Securities Exchange Act of 1934.
The company intends to file post-effective amendments to its outstanding registration statements on Form S-3 and S-8 to deregister unsold securities under the stated terms with the U.S. Securities and Exchange Commission (SEC) no earlier than Feb. 1.
Immediately upon the amendments taking affect, the company intends to file a Form 15 with the SEC. As a result, the company’s obligation to file current and periodic reports under the Securities Exchange Act will be automatically suspended in accordance with applicable SEC rules.
Monitronics says it is deregistering because it believes that its public company reporting requirements do not provide a discernable benefit to the company and is not in the best long-term interest of its shareholders.
Following the delisting, the company anticipates that its common stock will be quoted on the OTC Pink Open Market (the Pink Sheets), a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading in the company’s common stock.
However, the company can give no assurance that trading in its common stock will continue on the Pink Sheets or any other securities exchange or quotation medium, according to the announcement.
Brinks Home Security is one of the largest home security and alarm monitoring companies in North America. Headquartered in the Dallas-Fort Worth area, the company secures over 900,000 residential and commercial customers. The companys has one of the nation’s largest networks of independent authorized dealers and agents, providing products and support to customers in the U.S., Canada and Puerto Rico, as well as direct-to-consumer sales of DIY and professionally installed products.
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