MoSys, Inc. Announces Listing Transfer to Nasdaq Capital Market
September 08 2016 - 9:05AM
MoSys, Inc. (NASDAQ:MOSY), a leader in semiconductor solutions
that enable fast, intelligent data access for network and
communications systems, today announced that it received a
determination letter from The NASDAQ Stock Market (Nasdaq) granting
approval of the Company's request to transfer its listing to the
Nasdaq Capital Market from the Nasdaq Global Select Market. The
Nasdaq Capital Market is a continuous trading market that operates
in substantially the same manner as the Nasdaq Global Select Market
and requires listed companies to meet certain financial and
corporate governance requirements to qualify for listing. The
Company expects its stock to begin trading on the Nasdaq Capital
Market effective at the start of trading on September 9, 2016. The
Company's stock will continue to trade on Nasdaq under the symbol
"MOSY."
Upon transfer to the Nasdaq Capital Market, the
Company is being afforded an additional 180-day grace period to
regain compliance with Nasdaq’s minimum bid price requirement. As
previously disclosed, the Company was notified by Nasdaq on March
7, 2016, that its common stock no longer satisfied the minimum bid
price of $1.00 per share required for continued listing. In
anticipation of not meeting the minimum bid price requirement by
September 6, 2016, the end of the initial 180-day grace period, the
Company applied to transfer the listing of its common stock to the
Nasdaq Capital Market. In order to regain compliance, the minimum
bid price per share of the Company's common stock must be at least
$1.00 for at least ten consecutive business days during the
additional 180-day grace period, which will end on March 6, 2017.
If the Company fails to regain compliance during this grace period,
the Company's common stock will be subject to delisting by Nasdaq.
The Company has provided Nasdaq with written assurance that it will
implement a reverse stock split if the closing bid price of its
common stock is not at least $1.00 for a minimum of 10 consecutive
business days before March 6, 2017.
About MoSys, Inc.MoSys, Inc.
(NASDAQ:MOSY) is a fabless semiconductor company enabling leading
equipment manufacturers in the networking and communications
systems markets to address the continual increase in Internet
users, data and services. The Company’s solutions deliver data path
connectivity, speed and intelligence while eliminating data access
bottlenecks on line cards and systems scaling from 100G to
multi-terabits per second. Engineered and built for
high-reliability carrier and enterprise applications, MoSys'
Bandwidth Engine® and LineSpeed™ IC product families are based on
the Company's patented high-performance, high-density intelligent
access and high-speed serial interface technology, and utilize the
Company's highly efficient GigaChip® Interface. MoSys is
headquartered in Santa Clara, California. More information is
available at www.mosys.com.
Bandwidth Engine, GigaChip, and MoSys are
registered trademarks of MoSys, Inc. in the US and/or other
countries. LineSpeed and the MoSys logo are trademarks of MoSys,
Inc. All other marks mentioned herein are the property of their
respective owners.
Contacts:
Jim Sullivan, CFO
MoSys, Inc.
+1 (408) 418-7500
jsullivan@mosys.com
Beverly Twing, Sr. Acct. Manager
Shelton Group, Investor Relations
+1 (214) 272-0089
btwing@sheltongroup.com
MoSys (NASDAQ:MOSY)
Historical Stock Chart
From Mar 2024 to Apr 2024
MoSys (NASDAQ:MOSY)
Historical Stock Chart
From Apr 2023 to Apr 2024