![]() ![]() ![]() The overall plan will “position the company for recovery and future growth,” putting IDW in “the strongest position possible to unlock value from its assets, including its intellectual property and ability to generate new intellectual property,” IDW said in a press release today. ![]() The company said it “intends to file an application for its Class B common stock to be quoted on the OTCQB platform as soon as practicable.” Overall, the layoffs will impact 39% of IDW’s current workforce, which the company said will eventually deliver $4.4 million in annual savings.Īs a result, IDW expects to hold approximately $5.7 million cash and cash equivalents as of April 28.Īs for the stock, the IDW board plans to deregister its Class B common stock and delist it from the NYSE, expecting the moves to take effect by May 18. Davidi Jonas was recently elected to the board by the company’s stockholders his family collectively owns a controlling interest in the company’s equity, IDW said.Ĭhief financial officer Brooke Feinstein is also departing the company. 'Locke & Key' Star Asha Bromfield To Adapt Debut Novel 'Hurricane Summer' Into Feature FilmĪs part of the changes, the IDW board said that Davidi Jonas, son of IDW’s chairman and chairman of the board Howard Jonas, will take over as CEO replacing Allan Grafman. ![]()
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