ParkerVision, Inc. Receives NASDAQ Notice of Minimum Bid Price Non-Compliance
April 21 2015 - 4:10PM
ParkerVision, Inc. (Nasdaq:PRKR), a developer and
marketer of semiconductor technology solutions for wireless
applications, announced today that it received a letter from the
Nasdaq Listing Qualifications Department of The Nasdaq Capital
Market ("Nasdaq") notifying the Company that the minimum bid price
for the Company's common stock was below $1.00 per share for a
period of 30 consecutive business days, and that the Company did
not meet the minimum bid price requirement set forth under Nasdaq
Listing Rule 5550(a)(2).
The Nasdaq notification has no effect at this time on the
listing of the Company's common stock, and the stock will continue
to trade uninterrupted under the symbol "PRKR". ParkerVision
management intends to actively monitor the bid price for its common
stock and will consider all available options to regain compliance
with the Nasdaq minimum bid price requirement.
The Company has a compliance period of 180 calendar days (until
October 19, 2015) to regain compliance with the minimum bid price
requirement. If at any time during the 180 day compliance period,
the closing bid price per share of the Company's common stock is at
least $1.00 for at least ten consecutive business days, Nasdaq will
provide the Company a written confirmation of compliance and the
matter will be closed.
In the event the Company does not regain compliance with Rule
5550(a)(2) within this compliance period, it may be eligible for
additional time. To qualify, the Company will be required to
meet the continued listing requirement for market value of publicly
held shares and all other initial listing standards for Nasdaq,
with the exception of the bid price requirement, and will need to
provide written notice of its intention to cure the deficiency
during the second compliance period, by effecting a reverse stock
split, if necessary. If the Nasdaq staff concludes that the
Company will not be able to cure the deficiency or if the Company
is otherwise not eligible, the Company's common stock will be
subject to delisting by Nasdaq.
About ParkerVision, Inc.
ParkerVision, Inc. designs, develops and markets its proprietary
radio-frequency (RF) technologies that enable advanced wireless
solutions for current and next generation communications networks.
Protected by a highly-regarded, worldwide patent portfolio, the
Company's solutions for wireless transfer of RF waveforms address
the needs of a broad range of wirelessly connected devices for high
levels of RF performance coupled with best-in-class power
consumption. For more information please visit
www.parkervision.com. (PRKR-G)
Safe Harbor
Statement
This press release contains forward-looking information. Readers
are cautioned not to place undue reliance on any such
forward-looking statements, each of which speaks only as of the
date made. Such statements are subject to certain risks and
uncertainties which are disclosed in ParkerVision's SEC reports,
including the Form 10-K for the year ended December 31,
2014. These risks and uncertainties could cause actual results
to differ materially from those currently anticipated or
projected.
CONTACT: Cindy Poehlman
Chief Financial Officer
ParkerVision, Inc.
904-732-6100, cpoehlman@parkervision.com
or
Don Markley or
Glenn Garmont
The Piacente Group
212-481-2050, parkervision@tpg-ir.com
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