Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed, on February 13, 2020, The McClatchy Company (the
"Company") filed voluntary petitions (the "Chapter 11 Cases") in the United
States Bankruptcy Court for the Southern District of New York seeking relief
under Chapter 11 of the United States Bankruptcy Code. On the same day, the
Company was notified by the NYSE American LLC (the "NYSE American") that, as a
result of the Chapter 11 Cases, and in accordance with Section 1003(c)(iii) of
the NYSE American Company Guide, the NYSE American has suspended trading of the
Company's Class A common stock (the "Common Stock") effective immediately and
will commence proceedings to delist the Common Stock from the NYSE American.
McClatchy will not appeal the delisting determination by the NYSE American.
The NYSE American will apply to the Securities and Exchange Commission ("SEC")
to delist the Common Stock upon completion of all applicable procedures.
The Company anticipates that the Common Stock will begin trading on the OTC Pink
marketplace under the symbol "MNIQQ". The Company can provide no assurance that
the Common Stock will commence or continue to trade on this market, whether
broker-dealers will continue to provide public quotes of the Common Stock on
this market, whether the trading volume of the Common Stock will be sufficient
to provide for an efficient trading market or whether quotes for the Common
Stock will continue on this market in the future.
The transition to over-the-counter markets will not affect the Company's
business operations or its SEC reporting requirements and does not conflict with
or cause an event of default under any of McClatchy's material debt or other
agreements.
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