Culp, Inc., a leading provider of fabrics for bedding and upholstery fabrics for residential, commercial, and hospitality furniture and other applications, today announced it will voluntarily transfer its stock exchange listing from the New York Stock Exchange to the NASDAQ Capital Market.
CULP’s common stock is expected to begin trading as a Nasdaq-listed security at market open on March 6, under its existing “CULP” stock symbol.
CEO Iv Culp, commented, “We are excited to join Nasdaq and leverage its trading platforms and corporate solutions as we move into our next chapter following the recent completion of restructuring, integration and other transformational initiatives across our business. In addition, NASDAQ should provide us with a listing exchange more closely aligned with companies we consider to be peers in certain respects. We anticipate a seamless transition for our shareholders and would, of course, like to thank the NYSE for its partnership over the last three decades of our journey as a publicly traded company."
Culp is one of the largest marketers of mattress fabrics for bedding and upholstery fabrics for residential, commercial, and hospitality furniture and other applications in North America.
The Company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp’s manufacturing facilities and fabrics sourced through other suppliers. Culp has manufacturing and sourcing capabilities located in the United States, China, Haiti, Turkey, and Vietnam.
CULP parted ways with half a cent to $3.32.
