Berwyn, Pennsylvania, December 30, 2022. Positive Physicians Holdings, Inc. (the “Company”) (OTCQX: PPHI), the holding company of Positive Physicians Insurance Company and Positive Professionals Management LLC, today announced it will no longer be quoted on the OTCQX Market effective in January 2023. In addition, the Company will no longer provide current information to OTC Markets and expects to drop down reporting tiers on the OTC Markets; however, it can give no assurance that trading in its common stock will continue on OTC Markets or any other securities exchange or quotation medium.
The Company’s Form S-1, effective March 27, 2019, relating to the Company’s initial public offering discussed the additional financial, reporting and corporate governance requirements associated with being a listed, reporting company, and the significant commitment of additional expense and other resources that would be required. In line with this disclosure, and after review and careful consideration of the administrative burden and costs and benefits of reporting on the OTCQX Market, the Company has made the decision to cease providing current information to the OTC Markets, which is expected to result in the Company dropping down reporting tiers on OTC Markets. The savings derived from this change are expected to be financially meaningful