Nasdaq Files Form 25 to Delist KLX Energy Services Shares

What happened

Nasdaq Stock Market LLC filed a Form 25 with the Securities and Exchange Commission on September 24, 2026, to remove KLX Energy Services Holdings, Inc.'s securities from listing and registration on the exchange, according to the filing.

The filing identifies the class of securities as "rights." It does not state a reason for the delisting, and none of the provided sources explain why the exchange took this step. KLX Energy Services, which is based in Wellington, Florida, provides oil and gas field services.

The company's shares closed at $1.47 on the event date, unchanged from the prior close, according to the price data provided.

What the filing shows

The Form 25 was signed by Tara Petta, an assistant vice president at Nasdaq, and cites Rule 17 CFR 240.12d2-2(b). That provision states the exchange has complied with its own rules to strike the securities from listing and withdraw registration.

A second box on the form, referencing 17 CFR 240.12d2-2(c), covers voluntary withdrawal by the issuer. It is not marked in the text provided. The form also lists several rule provisions under 17 CFR 240.12d2-2(a) that could be relied upon, but the filing text does not make clear which one applies.

The event date listed on the filing is September 24, 2026, the same date as the filing.

What this means

A Form 25 is the formal notification that a security is being removed from an exchange listing and from registration under Section 12(b) of the Securities Exchange Act of 1934. Either the company or the exchange can file it. Here, Nasdaq filed it, which points to an exchange-initiated delisting rather than a voluntary request by the company.

Form 25 filings matter because a listed stock that loses its exchange listing generally can no longer trade on that exchange. Delisting is also the first step toward deregistration, which ends the company's obligation to file periodic reports such as annual and quarterly filings with the SEC, though that deregistration typically takes effect after a waiting period.

The form describes the affected securities as "rights." Rights are a type of security that can entitle holders to buy additional shares under specific conditions, distinct from common stock. The filing does not specify what these rights are tied to, and no source provided explains their terms or the reason for the removal.

Readers looking for the cause should note that the provided sources do not establish one. The filing is a procedural notification by the exchange, not an explanation.