Stock of Bryan-based Ohio Art Co. traded yesterday on the Pink Sheets system for over-the-counter stocks after the firm s shares were delisted from the American Stock Exchange Friday.
Shares closed at $9.50, up 10 cents for the day, on slim volume of 2,240 shares under its new ticker symbol OART.PK. In the last trade on AMEX, where the toy maker s stock traded for 35 years, the stock closed at $9.20 a share.
Six months ago, Ohio Art applied to be removed from the exchange and to be de-registered with the U.S. Securities and Exchange Commission to avoid the costs of compliance with regulatory measures including the Sarbanes-Oxley Act. However, the firm has been unable to de-register because it still has more than 300 shareholders of record.