Business

Westell gets OK to trade on Nasdaq Capital Market

Posted January 03, 2017 12:00 am

Business Wire

AURORA - Westell Technologies said it received approval from the Nasdaq stock market to transfer the listing of the company's common stock to the Nasdaq Capital Market from the Nasdaq Global Select Market.

In addition, Nasdaq approved an additional 180-day grace period to regain compliance with Nasdaq's minimum bid requirement.

The company's stock began trading on the Nasdaq Capital Market on Dec. 28 under the Company's symbol "WSTL." The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as the Nasdaq Global Select Market and listed companies must meet certain financial and corporate governance requirements to qualify for listing on the Nasdaq Capital Market.

In addition, Nasdaq granted the company an additional 180-day grace period to regain compliance with Nasdaq's minimum bid price requirement. Westell was notified by Nasdaq on July 1, 2016, that it no longer satisfied the minimum bid price requirement for continued listing. The company has until June 26 to demonstrate compliance with the minimum bid price requirement for continued listing.

Article Comments

Article Categories
Business Information Technology

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.