IMC Mortgage Co. on Wednesday reported a net loss of $100 million for 1998, and said it has received notice that its common stock will be removed from the Nasdaq board on April 14, for failing to maintain a share price of at least $1.

The company said Feb. 22 that it plans to merge with a subsidiary of Greenwich Street Capital Partners, a Citigroup-managed fund that has provided IMC with equity in the past year.

The merger, which has yet to be approved by common stockholders, would leave Greenwich Street with 6.5% of the outstanding stock.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.