NEW YORK, June 13, 2017 /PRNewswire/ -- TheStreet,
Inc. (NASDAQ: TST), a leading financial news and information
company, today announced that the Nasdaq Stock Market has approved
the Company's application to list its common stock on the Nasdaq
Capital Market. The Company's securities will be transferred from
the Nasdaq Global Market to the Nasdaq Capital Market at the
opening of business on June 14, 2017.
The Nasdaq Capital Market is a continuous trading market that
operates in substantially the same manner as the Nasdaq Global
Market and listed companies must meet certain financial
requirements and comply with Nasdaq's corporate governance
requirements. The Company's shares will continue to trade under the
symbol "TST."
As previously reported, the Company was notified by Nasdaq on
December 14, 2016, that it no longer
satisfied the minimum bid price requirement for continued listing
of $1.00 per share. In anticipation
of not meeting the minimum bid price requirement by June 12, 2017, the end of its initial 180-day
grace period, the Company applied to transfer the listing of its
common stock to the Nasdaq Capital Market. The Company is now being
afforded an additional 180-day grace period, or until December 11, 2017, to regain compliance with the
Nasdaq's minimum bid price requirement. 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. 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 written notice of its
intention to cure the minimum bid price deficiency during the
second grace period by effecting a reverse stock split if
necessary.
About TheStreet
TheStreet, Inc. (NASDAQ: TST, www.t.st) is a leading financial
news and information provider to investors and institutions
worldwide. The Company's flagship brand, TheStreet
(www.thestreet.com), has produced unbiased business news and market
analysis for individual investors for more than 20 years. The
Company's portfolio of institutional brands includes The Deal
(www.thedeal.com), which provides actionable, intraday coverage of
mergers, acquisitions and all other changes in corporate control;
BoardEx (www.boardex.com), a relationship mapping service of
corporate directors and officers; and RateWatch
(www.rate-watch.com), which supplies rate and fee data from banks
and credit unions across the U.S.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements as
that term is defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements can include
statements regarding planned investments in our business and
expectations for 2017. Such forward-looking statements are
subject to risks and uncertainties, including those described in
the Company's filings with the Securities and Exchange Commission
("SEC") that could cause actual results to differ materially from
those reflected in the forward-looking statements. Factors
that might contribute to such differences include, among others,
economic downturns and the general state of the economy, including
the financial markets and mergers and acquisitions environment; our
ability to drive revenue, and increase or retain current
subscription revenue, particularly in light of the investments in
our expanded news operations; our ability to develop new products;
competition and other factors set forth in our filings with the
SEC, which are available on the SEC's website at www.sec.gov.
All forward-looking statements contained herein are made as of the
date of this press release. Although the Company believes
that the expectations reflected in the forward-looking statements
are reasonable, the Company cannot guarantee future results or
occurrences. The Company disclaims any obligation to update
these forward-looking statements, whether as a result of new
information, future developments or otherwise.
Contact: Eric
Lundberg, Chief Financial Officer, TheStreet, Inc.,
ir at thestreet.com; John
Evans, Investor Relations, PIR Communications,
415-309-0230, ir at thestreet.com
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SOURCE TheStreet, Inc.