iHeartMedia announced that its Class A common stock has been approved for listing on the NASDAQ Global Select Market. Upon listing, iHeartMedia’s Class A common stock will trade under the ticker “IHRT”.
As previously announced, iHeart had been evaluating all paths to achieve a listing of its Class A common stock on a recognized U.S. stock exchange following emergence from its restructuring process. iHeartMedia has determined that a listing on the NASDAQ Global Select Market is the optimal strategy for iHeartMedia and all of the company’s stakeholders.
As a result, the Company has requested the withdrawal of its previously filed registration statement on Form S-1 with the U.S. Securities and Exchange Commission. iHeartMedia’s management team met with investors the week of July 15 in advance of a listing date of July 18, 2019.
“This is an exciting time for our company and an important step in the evolution of iHeartMedia. Our listing on the NASDAQ will provide greater liquidity for existing shareholders, allow us to diversify our investor base, and give us improved access to public capital markets in the future,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc.