Existing shareholders should expect reduced liquidity and potential price discovery challenges as FONR moves to OTC markets. Monitor for any going-private transaction or tender offer that may follow. The 1 holder of record suggests a potential buyout or concentrated ownership — watch for Schedule 13E-3 or going-private filings.
Price Chart
Executive Summary
FONAR Corp. filed a Form 15-12G to terminate its SEC registration and suspend reporting obligations under Section 12(g) of the Exchange Act, effective June 15, 2026. The filing cites only 1 holder of record, following a prior NT 10-Q late filing in February 2026, indicating the company is 'going dark' and will cease public reporting. This is a significant bearish event for existing shareholders, as they lose SEC transparency and liquidity, with the stock likely moving to OTC markets.
Key Facts
- Form 15-12G filed June 15, 2026, terminating registration under Section 12(g) and suspending duty to file reports under Sections 13 and 15(d).
- Approximate number of holders of record as of certification date: 1.
- No other classes of securities remain registered; no duty to file reports remains.
- Follows a late filing (NT 10-Q) for the period ended December 31, 2025, filed February 9, 2026, citing unexpected delays.
- Stock is currently listed on Nasdaq (SIC 3845); deregistration will likely result in a move to OTC markets.
- Top institutional holders include Vanguard Capital Management ($6M), Dimensional Fund Advisors ($6M), and BlackRock ($2M).
Financial Impact
Shareholders lose SEC reporting transparency and liquidity; stock expected to trade OTC with reduced volume and information asymmetry. No financial figures provided in filing.
Risk Factors
- Loss of SEC oversight increases information asymmetry and risk of adverse price moves.
- Reduced liquidity may lead to wider bid-ask spreads and difficulty exiting positions.
- No ongoing financial reporting means limited visibility into company performance.
- Potential delisting from Nasdaq if deregistration is not accompanied by a move to an alternative exchange.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 15-12G Filing (Primary) | 0001193125-26-270367 |
| Document: 0001193125-26-270367-index-headers.html | 0001193125-26-270367 |
| Document: 0001193125-26-270367-index.html | 0001193125-26-270367 |
| Document: 0001193125-26-270367.txt | 0001193125-26-270367 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 15, 2026 19w ago | 15-12G | — | awaiting T+5 | — | — |
Jun 3, 2026 20w ago | 8-K | $19.09 | awaiting T+5 | — | — |
May 21, 2026 22w ago | DEFA14A | $18.90 $19.11 | ▲ +1.14% | ▼ −0.52% | — |
May 21, 2026 22w ago | 8-K | $18.90 $19.11 | ▲ +1.14% | ▼ −0.52% | — |
May 12, 2026 23w ago | DEFA14A | $18.86 $18.86 | · 0.00% | ▼ −1.16% | — |
May 12, 2026 23w ago | 8-K | $18.86 $18.86 | · 0.00% | ▼ −1.16% | — |
US Market Status
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