Cumulus Moving From Nasdaq To OTC

• With the specter of delisting from Nasdaq hovering in the air, yesterday we received this statement from Cumulus: “Cumulus has decided to move its stock from trading on the Nasdaq to trading on the OTC market rather than investing time, effort, and cost into developing a plan to remain on Nasdaq. This change, effective May 2, solely impacts the trading venue — the CMLS ticker remains the same — and it does not affect the company’s operations. Cumulus remains focused on executing its strategy and driving long-term growth.”

After opening Wednesday at $0.2899, CMLS dipped to 0.180833 at 4:37pm yesterday before rebounding slightly, closing at at $0.2646 per share in After Hours trading.