Just now, Chuck Royce‘s Royce & Associates reported another sale of shares of restaurant franchiser Cosi Inc (NASDAQ:COSI). In a filing with the SEC, Royce disclosed holding around 1.09 million shares of Cosi, which account for 6.01% of the company. Just yesterday, Royce reported already decreasing its stake in Cosi to 1.29 million shares, equivalent to 7.12% of the company.
In August, Cosi received a notification from the Listings Qualifications Department of the Nasdaq Stock Market, which stated that Cosi was supposed to present a plan to recover shareholders equity of at least $10 million, in order to avoid delisting.
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