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Twitter Was Delisted From the NYSE on November 8, 2022

Twitter’s NYSE trading stopped on October 28, 2022. Formal removal from listing followed on November 8 after the merger took the company private.
From TheFinanceBase Team2 min to read
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Twitter stopped trading on the New York Stock Exchange before the market opened on October 28, 2022. Its shares were formally removed from NYSE listing and registration on November 8, 2022, after Elon Musk’s acquisition took the company private. Those dates mark separate steps in the process.

What happened to Twitter stock?

Twitter reported that its merger closed on October 27, 2022. The next day, the company notified the NYSE that it was requesting the delisting of its common stock, and trading was suspended before the exchange opened. The company’s Form 8-K records the closing and trading suspension.

The suspension meant investors could no longer trade Twitter shares on the NYSE beginning October 28. The later date in the headline refers to the formal removal from listing and registration: the NYSE’s Form 25 states that removal would take effect at the opening of business on November 8, 2022.

Why was Twitter delisted?

The acquisition made Twitter a privately held company rather than a publicly traded NYSE issuer. Twitter asked the exchange to file Form 25 to remove its shares from listing and deregister them under Section 12(b) of the Securities Exchange Act. In its October 2022 filing, Twitter also said it intended to seek termination of registration under Section 12(g) and suspension of its reporting obligations after Form 25 became effective. That was the company’s stated intention at the time.

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What happened to shareholders?

The NYSE Form 25 says the merger gave shareholders the right to an immediate cash payment of $54.20 per share, without interest and less applicable withholding taxes. This was the merger consideration described in the 2022 filing, not a current trading price or an offer available today.

The three key dates

Milestone Date and significance
Merger closed October 27, 2022. Twitter reported that the merger was consummated.
NYSE trading suspended October 28, 2022, before the market opened. Trading stopped before the formal removal date.
Formal removal from listing and registration November 8, 2022, at the opening of business, as stated in the NYSE Form 25.

Why the two delisting dates matter

“Trading suspended” and “removed from listing” describe different milestones. The first tells investors when NYSE trading stopped; the second is the effective date the exchange specified for removing the shares from its listing and registration. For Twitter, those dates were October 28 and November 8, 2022, respectively.

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The NYSE’s general delistings information describes how removal proceedings can work in other cases. Twitter’s own filings and the transaction-specific Form 25 provide the relevant dates and terms for this merger.

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