Monitronics International Inc. and its subsidiary Brinks Home Security, a home security and alarm monitoring company, announced that it intends to voluntarily deregister its common stock under the Securities Exchange Act of 1934. The company intends to file post-effective amendments to its outstanding registration statements on Form S-3 and S-8 to deregister unsold securities with the U.S. Securities and Exchange Commission (SEC) no earlier than Feb. 1, 2021.
Then, the company intends to file a Form 15 with the SEC. As a result, the company’s obligation to file current and periodic reports under the Exchange Act will be automatically suspended in accordance with applicable SEC rules.
Brinks Home Security is deregistering because it believes that its public company reporting requirements do not provide a discernable benefit to the company and is not in the best long-term interest of its shareholders. Following the delisting, Brinks Home Security anticipates that its common stock will be quoted on the OTC Pink Open Market (the “Pink Sheets”), a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading in the company’s common stock. However, the company can give no assurance that trading in its common stock will continue on the Pink Sheets or any other securities exchange or quotation medium.