Summary
This 8-K filing from American Electric Power Co. Inc. (AEP) serves as an amendment to a previous filing, primarily clarifying details regarding its voluntary delisting from the New York Stock Exchange (NYSE) and subsequent listing on The NASDAQ Stock Market LLC (NASDAQ). The company previously announced its intention to move its common stock and two series of corporate units to NASDAQ, effective October 1, 2020. This amendment specifically updates the NASDAQ trading symbols for the two series of corporate units, which will now be known as AEPPL and AEPPZ, while the common stock will retain its AEP ticker.
Key Highlights
- 1AEP is voluntarily delisting its common stock and two series of corporate units from the NYSE, effective after market close on September 30, 2020.
- 2The company is transferring its common stock and corporate units to NASDAQ, with trading expected to commence on October 1, 2020.
- 3AEP's common stock will continue to trade under the existing ticker symbol "AEP" on NASDAQ.
- 4The two series of corporate units will have new ticker symbols on NASDAQ: "AEPPL" (formerly AEP PR B) and "AEPPZ" (formerly AEP PR C).
- 5This move indicates a strategic decision by AEP to consolidate its listings on a single exchange.
Frequently Asked Questions
The filing states that AEP is voluntarily delisting from the NYSE and transferring to NASDAQ. While the specific strategic reasons are not detailed in this amendment, such moves can be driven by factors like cost savings, perceived market advantages, or simplified trading operations.
No, your AEP common stock will continue to trade under the same ticker symbol "AEP". You do not need to take any action. The change is primarily administrative and relates to where the shares are listed.
The two series of corporate units will trade under the new NASDAQ ticker symbols "AEPPL" and "AEPPZ". These were previously known as AEP PR B and AEP PR C.
The transfer of listing to NASDAQ is effective as of the opening of trading on October 1, 2020. Trading on the NYSE will cease after the close of trading on September 30, 2020.