SPAR Group Shares to Be Delisted From Exchange, Form 25-NSE Shows

What happened

An exchange filed a Form 25-NSE with the Securities and Exchange Commission on October 1, 2026, according to the filing record for SPAR Group, Inc. (ticker SGRP). The filing is the mechanism by which a security is removed from an exchange listing.

SPAR Group shares closed at $0.70 on the day of the filing, up 4.48% from the prior close of $0.67, according to the price data. A sub-$1 share price is below the $1.00 minimum that major US exchanges typically require for continued listing.

The body of the filing could not be retrieved, so the specific exchange involved and the stated grounds for the delisting are not established here. The filing date and form type are the only details confirmed.

What SPAR Group does

SPAR Group is a business services company. It provides merchandising and marketing services to retailers and consumer goods manufacturers, work that includes in-store product placement, audits, and related field services, generally carried out by a distributed workforce at retail locations rather than at a single company site.

What this means

A Form 25 is the document that removes — or formally starts removing — a security from a national exchange's listing. Either the issuer or the exchange itself can file one. A 25-NSE is the exchange's version, used when the exchange is the party making the move rather than the company.

This matters because the form number alone does not tell you what is being delisted. Form 25 is also used when a company simply redeems maturing bonds, which is routine. Here the signal concerns common stock — the actual equity — which is the opposite case: removal of a company's shares from an exchange is a significant event for holders.

Once a delisting is filed, the shares typically move off the exchange and may instead trade over the counter, where quotes are published by broker-dealer networks rather than a listed market. The filing record retrieved here does not specify a trading venue after delisting, and any timeline depends on the exchange's own rules and any appeal or cure process, none of which the available sources describe.

The one thing the price data does show is that the market already valued SGRP at well under a dollar a share on the day the exchange acted. The filing record does not say why the exchange moved, and that cause should not be assumed.